West Chester-based Keystone Foods – which supplies chicken, beef, fish, and pork to fast-food restaurants, including McDonald’s – has been acquired by Tyson Foods for $2.16 billion in cash, according to a report from Undercurrent News.

This deal is a big step toward achieving Tyson’s domestic and international sales growth goals.

“Our biggest growth opportunities are in value-added foods and international markets,” said Noel White, Tyson’s president and CEO. “Our acquisition of Keystone helps us achieve both.”

He said that the addition of Keystone’s team, industry expertise, and international operations will further strengthen Tyson’s capabilities.

The sale includes six processing plants and a U.S. innovation center, along with eight plants and three more innovation centers outside of the country. However, Keystone’s beef patty processing plant in Ohio is not included in the deal.

Keystone employs around 11,000 and generated annual revenue of $2.5 billion in the 12 months ended June 30, 2018. Of this, around 65 percent came from U.S. production, with the rest coming from its international operations.

Read more about the sale of Keystone Foods from Undercurrent News here.

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