Dive Brief:
- Tyson is considering making a bid for Michael Food, an egg, potato and dairy producer owned by the private equity arm of Goldman Sachs, according to Reuters.
- Such a deal would give Tyson access to numerous products it could market alongside its meats as the company expands it sales of prepared foods in convenience stores and elsewhere.
- Analysts have estimated that Michael Food would sell for between $2 billion and $2.5 billion.
Dive Insight:
Goldman Sachs has been pretty open about its interest in selling Michael Foods. And Tyson makes a likely suitor. However, Tyson does not have much of a history when it comes to big-money acquisitions. Its last major deal was back in 2001, when it paid $3.2 billion to buy IBP Inc.