Alston & Bird client American Proteins, Inc., and subsidiary AMPRO Products, Inc., have agreed to sell their poultry processing assets to Tyson Foods, Inc., for approximately $850 million.
The agreement is subject to customary closing conditions, including regulatory approval.
The acquisition, which includes four rendering plants in Georgia and Alabama and 13 blending facilities throughout the Southeast and Midwest U.S., will enable Tyson to recycle more animal products for feed, pet food, and aquaculture, among other things, and expand its presence in the growing animal feed ingredient business.
Founded in 1949 in Cumming, GA, American Proteins is ranked by revenue as one of “Atlanta’s 25 Largest Private Companies” by the Atlanta Business Chronicle. Tyson, which is headquartered in Springdale, AR, is one of the world’s largest food companies, with more than 120,000 employees.
Representing American Proteins and AMPRO Products is an Alston & Bird team led by partner Jeremy Silverman, senior associate Elaine Tapp, associate Logan Thore (Corporate & Business Transactions), and partner Bert Bender (Real Estate & REITs).