American food company Tyson Foods Inc. revealed plans this week to invest $26 million in an expansion of its Wright brand bacon plant in Vernon, TX. The project will boost production of bacon and create 32 new positions at the facility.
“This project is great news for our plant, our community and our customers,” Dane Bonfy, manager of the Wright Brand plant, said in a company release. “We love the Vernon community and look forward to growing our team with the additional positions and meeting the growing demand for our products.”
The bacon category’s volume has increased by 18% since 2017. Over the last three years, the Wright brand has grown its volume by 29%, according to Tyson. Its investment aims to meet growing demand and provide room for future expansions.
Hiring for the new roles is slated to commence immediately. Tyson expects the expansion project will reach completion in March 2021.
The global bacon market is projected to increase in value from $27 billion in 2018 to $40 billion by 2027, growing at a CAGR of 4.3% from 2019 to 2027, a recent forecast published by ResearchAndMarkets posits.