February 16, 2018
As part of its continued expansion in western Tennessee, a subsidiary of Tyson Foods Inc. has signed a definitive agreement to purchase three commercial grain elevators from the Grain Group of The Andersons Inc. The elevators are located in Dyer, Humboldt and Kenton, Tenn., and will support Tyson's existing operations in Union City, Tenn., as well as its planned chicken complex in Humboldt, Tenn.
“This project will help secure vital inputs for us and position us to grow and support our customers,” said Doug Ramsey, group president of poultry for Tyson Foods. “We look forward to creating more direct relationships with the grain producers in the area.”
The transaction is expected to close in March, and terms of the agreement are not being disclosed. It is expected that about 20 employees of The Andersons will become employees of Tyson Foods. No disruption to existing contracts with area farmers is expected.
Tyson developed a program called Local Grain Services to build relationships with and resources for farmers who provide grain to feed chickens grown for the company. Buying corn, wheat and soybeans directly from local farmers promotes local economies and is part of the company’s strategy to sustainably feed the world with the fastest-growing portfolio of protein-packed brands.
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