| SPRINGDALE, Jun 03, 2013 (GLOBE NEWSWIRE via COMTEX) -- Tyson Foods, Inc. continues to accelerate the strategic
expansion of its value-added foods portfolio with the acquisition of the assets of Circle Foods, LLC, a producer
of frozen and refrigerated handheld Mexican foods, uncooked tortillas and Indian flatbreads, from Claridge,
officials of both companies announced today.
California-based Circle Foods has been in business for 25 years and is known for branded products that include
NUEVO GRILLE and TORTILLALAND handheld Mexican products, TORTILLALAND uncooked tortillas and ROTILAND Indian
flatbreads. The company, which operates a state-of-the-art plant in San Diego, also produces private label
products for various customers.
Terms of the acquisition, which was completed June 1, were not disclosed. Tyson Foods does not plan any
significant operational changes and intends to keep the existing Circle Foods management and production team in
place to grow the business. The operation currently has approximately 600 full-time employees.
"Claridge and the Circle Foods team have developed an outstanding portfolio of products and customers, with a
fantastic plant and workforce, and will be an excellent fit within our branded consumer products group," said
Donnie Smith, president and CEO of Tyson Foods. "We believe Tyson's robust sales structure, as well as our frozen
and refrigerated foods distribution system, will enable this business to accelerate its growth."
"We are delighted to see the transition of Circle Foods to Tyson Foods, who are committed to continue the growth
of the business. Right from the beginning when we met the Tyson people and organization we knew we had an
excellent partner we could work with on this transaction," said Stephen Bronfman, executive chairman of Claridge.
"We are confident that Circle Foods will flourish under Tyson's ownership."
Circle Foods' 159,000 square foot facility in San Diego was built in 2008 and has been recognized for its
outstanding food safety management system. The plant produces burritos, chimichangas, enchiladas, quesadillas,
tacos and tamales, as well as tortillas and Indian flat breads. More information about Circle Foods is available
at CircleFoods.com.
About Tyson Foods
Tyson Foods, Inc. with headquarters in Springdale, Arkansas, is one of the world's largest processors and
marketers of chicken, beef and pork, the second-largest food production company in the Fortune 500 and a member of
the S&P 500. The company was founded in 1935 by John W. Tyson, whose family has continued to be involved with son
Don Tyson leading the company for many years and grandson John H. Tyson serving as the current Chairman of the
Board of Directors. Tyson Foods produces a wide variety of protein-based and prepared food products and is the
recognized market leader in the retail and foodservice markets it serves. The company provides products and
services to customers throughout the United States and approximately 130 countries. It has approximately 115,000
Team Members employed at more than 400 facilities and offices in the United States and around the world. Through
its Core Values, Code of Conduct and Team Member Bill of Rights, Tyson Foods strives to operate with integrity and
trust and is committed to creating value for its shareholders, customers and Team Members. The company also
strives to be faith-friendly, provide a safe work environment and serve as stewards of the animals, land and
environment entrusted to it.
About Claridge Inc.
Claridge, Inc. is an investment firm headquartered in Montreal, Quebec. The firm represents the interests of the
Stephen Bronfman family and is actively involved in the management of a diverse portfolio of third-party managed
investments, as well as direct equity participations in the food industry (Plats Du Chef, Montreal Canada and La
Terra Fina, Union City California), real estate and entertainment sectors.
Forward-Looking Statements
This release includes forward-looking statements as well as historical information. These forward-looking
statements may include statements relating to anticipated sales growth and other benefits related to the described
acquisition. Actual results may vary. Factors that could cause actual results to differ from those in the forward-
looking statements include, but are not limited to: consumer demand and perceptions; the availability of raw
materials; customer requests and requirements; and the ability to compete in products and prices in a competitive
industry.
CONTACT: Gary Mickelson Tyson Foods 479-290-6111 [email protected] Zeno Santache Claridge Inc. 514-878-5220
[email protected]
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