On December 5th, Tyson Foods acquired the former Cargill turkey processing plant in Springdale, AR. for $23 million. The facility is located on a 45-acre property and is approximately 350,000 square feet in extent.
Tyson Foods intends to convert the plant to further-processing requiring an investment of between $100 and $130 million.
Industry observers suggest that Cargill intends to withdraw from turkey production in the U.S. but without confirmation from the Company. Cargill will maintain a presence in the poultry industry through its joint-venture investment in Wayne-Sanderson Farms.