Tyson Foods announced Wednesday that it has purchased several grain elevators to support its chicken operations in Tennessee.
The three commercial grain elevators in western Tennessee will support Tyson's Union City operations, nearby poultry farmers and the $300 million plant to be built in Humboldt.
Doug Ramsey, Tyson's poultry division president, said in a prepared statement that this purchase will help "secure vital inputs" for continued growth, and Tyson looks forward to "creating more direct relationships with the grain producers in the area."
With the purchase, 20 employees from the grain group Andersons Inc. will transfer to Tyson Foods after the deal is final.
Agreement terms were not disclosed in an email release sent Wednesday afternoon. Tyson affirmed that no existing farm contracts are expected to be disrupted by the deal.
According to Tyson, buying corn, wheat and soybeans directly from farmers is part of the company's overall strategy to sustainably feed the world.
The nation's largest meat company did not provide comment when asked if other workers were displaced because of the agreement.
Business on 02/15/2018
Print Headline: Tyson acquires a group of Tennessee grain elevators