Citing sources familiar with the matter, Reuters reported Aug. 17 that Tyson Foods has agreed to purchase Keystone Foods from Brazilian meat packer Marfrig Global Foods S.A. for $2.5 billion. According to the sources, who asked to remain anonymous, Marfrig’s controlling shareholder, Marcos Molina, signed an agreement Thursday evening.

Keystone Foods is a leading supplier of protein products to more than 36,000 quick-service restaurants, major foodservice and industrial companies as well as retail outlets around the world, with approximate sales of $2.7 billion worldwide. The company globally processes approximately 2 billion lb. of poultry, roughly 300 million lb. of beef, more than 32 million lb. of fish and more than 12 million lb. of pork annually.