FAYETTEVILLE, Ark. — Tyson Foods has completed its purchase of AdvancePierre Foods, the company announced on Wednesday.
This was a $4.2 billion deal, including $3.2 billion in equity value and $1.1 billion in assumption of AdvancePierre debt.
The deal is worth $40.25 per share.
“AdvancePierre is a natural, strategic fit that will extend our capabilities in new and growing food categories,” said Tyson Foods President and CEO Tom Hayes. “We expect the acquisition to immediately contribute to earnings and are also confident it will result in cost synergy benefits of $200 million within three years.”