By Colin Kellaher

Tyson Foods Inc. (TSN) on Thursday said it agreed to buy the Thai and European operations of Brazil's BRF S.A. (BRFS3.BR) for $340 million as it expands its overseas value-added protein offerings.

The Springdale, Ark., meat giant said the deal includes four processing plants in Thailand, and one processing facility each in the Netherlands and U.K.

Tyson said the vertically integrated poultry operations in Thailand include a feed mill, hatchery, breeder farms and contract growing operations that supply live birds for the four plants, which produce a range of fresh and frozen, value-added raw and fully cooked poultry products.

"As noted when we acquired Keystone Foods on Nov. 30, we believe some of our biggest growth opportunities are in value-added foods and international markets," said Noel White, president and CEO of Tyson.

The company said it expects to complete the acquisition before the end of its fiscal third quarter.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

February 07, 2019 06:44 ET (11:44 GMT)

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