Godrej Agrovet Limited 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.
Godrej Tyson Foods operates 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.