Cargill to acquire full ownership of Teys Australia and USA
Cargill has agreed to purchase full ownership of Teys Australia and Teys USA, expanding a 14-year partnership. The deal ensures continuity for employees and partners, pending regulatory approval.
Global food corporation Cargill has announced an agreement to acquire full ownership of Teys Australia and Teys USA, effective upon regulatory approval.
The transaction builds on a 14-year joint venture between Cargill and the Teys family. This move aims to provide long-term stability for Teys' workforce, partners, and livestock producers, while preserving the company's 75-year family legacy focused on integrity and quality.
Completion of the ownership transition is anticipated in the second half of 2025. Cargill plans to appoint a new CEO for Teys and will collaborate with current executive chairman Brad Teys to facilitate a smooth handover of operations.
Cargill, a significant player in the food and protein industries, stated the acquisition will ensure the continued supply of high-quality Australian beef to both domestic and international markets. The partnership has been instrumental in Teys' growth as a provider of beef products.