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Tyson Forms Fats and Oils-Focused Joint Venture
February 12, 2020
4 Min Read
Tyson Fresh Meats announced the formation of a new fats and oils-focused joint venture this week. Image courtesy of Tyson Foods
The beef and pork subsidiary of Tyson Foods, Tyson Fresh Meats Inc., and specialty agricultural products processor and distributor Jacob Stern & Sons recently formed a new joint venture (JV), JST Global LLC, to operate in the global fats and oils market, a Tyson press release announced Monday.
JST Global will serve a range of industries – including pharmaceuticals, animal nutrition, and renewable fuels – with beef and pork byproducts and fats and oils from other sources.
“Jacob Stern and Tyson Fresh Meats have enjoyed a strong relationship over 50 years. Combining Tyson’s vast supply of animal fats with Jacob Stern’s Texas operations is a natural evolution and positions JST Global to meet growing worldwide demand,” Jacob Stern & Sons Chairman Phil Bernstein said in a statement.
Tyson Fresh Meats currently operates six beef plants and six pork plants across the country. Jacob Stern & Sons has been one of the food company’s largest customers for animal by-products and is America’s biggest processor of animal fats. Animal fats generated by Tyson Fresh Meats will be marketed by JST Global teams in several U.S. sites.
“With a secured supply, JST Global is strongly positioned to address the global demand for commodity and value-added animal fat,” said Jay Van Valen, former president of Jacob Stern & Sons’ operations in Texas who was tapped to serve as CEO of the new JV, in a release. “JST Global’s scale and broad capabilities are key differentiators that will allow us to deliver customized solutions, particularly in highly specialized markets such as renewable energy.”
The financial terms of the joint venture were not disclosed.
Also this week, Tyson Foods revealed plans to cut 500 jobs to increase the firm’s “financial fitness” and remain competitive. The company has about 12,000 employees across the globe.
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