US meat producer Tyson Foods acquires Original Philly Holdings

US-based meat producer Tyson Foods has completed the acquisition of Philadelphia’s Original Philly Holdings for an undisclosed price.

Original Philly Holdings is engaged in the production of raw and fully cooked Philly style sandwich steak and cheesesteak appetiser products.

Tyson Foods Prepared Foods Group president Sally Grimes said: “Original Philly Holdings is a natural, strategic fit with our prepared foods business.

“The Original Philly brand and portfolio of products are highly regarded in the foodservice industry and have a growing list of customer relationships with chain and convenience store operators.”

“We look forward to combining our commercial and operational resources with Original Philly Holdings’ capabilities to offer new solutions to customers and consumers, expand distribution, and continue the growth and legacy of the business.”

Original Philly Holdings is comprised of two businesses, namely Original Philly Cheesesteak that produces raw Philly Style sandwich steak products and Philadelphia Pre-Cooked Steak manufactures fully cooked Philly style sandwich steak products.

The company operates two plants in Philadelphia and has a workforce of nearly 250.

Its products are supplied to foodservice, retail and convenience store providers.

Tyson Foods’ fourth-quarter revenue recently rose by 10.8% to $10.15bn. The company’s beef business revenue increased by 9.5% and chicken rose by 8%.

The company has a broad portfolio of products and brands such as Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells, ibp, and State Fair.