Godrej Agrovet signs a definitive agreement to acquire Tyson’s stake in Godrej Tyson Foods Limited
To increase its stake from 51% to 100%
Mumbai, August 06, 2024: Godrej Agrovet Limited (GAVL), one of India’s largest diversified food and agri-business conglomerate, today announced that company has signed a definitive agreement with Tyson India Holdings Limited, an affiliate of Tyson Foods, Inc. to buy it’s 49 per cent stake in Godrej Tyson Foods Limited (GTFL), a subsidiary of GAVL. Following the completion of the transaction, GAVL will now hold 100 per cent stake in GTFL thereby further consolidating its business.
In 2008, GAVL had entered into a joint venture with an affiliate of Tyson Foods, Inc. to manufacture and market processed poultry and vegetarian products. Selling products under its brands ‘Real Good Chicken’ and ‘Yummiez’, GTFL is also engaged in the sale of live poultry birds in the market.
“Our partnership with Tyson Foods has been very enriching. Enabling us to leverage their capabilities in vertically integrated poultry processing and product development, it enabled us to modernize the way high quality poultry products are developed, produced and distributed in our country,” said Balram Singh Yadav, Managing Director, Godrej Agrovet Limited.
He further added, “The household penetration of frozen snacks in India is below 6%, indicating ample room for expansion. Hence, as we continue to focus on branded business supported by a cost-efficient live bird production system, our endeavour is to strengthen our portfolio and increase our presence across different channels.”
Godrej Tyson Foods operate in B2C space through value-added products such as Real Good Chicken and Godrej Yummiez whereas in the B2B vertical, it supplies processed chicken to renowned brands across leading hotel chains and quick service restaurants. With the presence in more than 35 cities and increasing, the company has also started exporting products under Godrej Yummiez brand to several countries.
About Godrej Agrovet
Godrej Agrovet Limited (GAVL) is a diversified, Research & Development focused food and agri-business conglomerate, dedicated to improving the productivity of Indian farmers by innovating products and services that sustainably increase crop and livestock yields. GAVL holds leading market positions in the different businesses it operates – Animal Feed, Crop Protection, Oil Palm, Dairy, Poultry and Processed Foods. GAVL has a pan India presence with sales of over a million tons annually of high-quality animal feed. Our teams have worked closely with Indian farmers to develop large Oil Palm Plantations, which is helping in bridging the demand and supply gap of edible oil in India. In the crop protection segment, the Company has strong presence in the B2B segment through its subsidiary Astec Lifesciences and through its extensive distribution, network pan-India delivers innovative agrochemical offerings catering to the entire crop life cycles. In Dairy, Poultry, and Processed Foods, the company operates through its subsidiaries Creamline Dairy Products Limited and Godrej Tyson Foods Limited. Apart from this, GAVL also has a joint venture with the ACI group of Bangladesh for animal feed business in Bangladesh.
