Tyson Fresh Meats and Jacob Stern & Sons Launch Joint Venture
February 10 2020 - 4:00PM
Tyson Fresh Meats, Inc., the beef and pork subsidiary of Tyson
Foods, Inc. (NYSE: TSN) and Jacob Stern & Sons, Inc. have
launched a joint venture, JST Global, LLC, to serve the worldwide
fats and oils market. Specific terms of the venture are not being
disclosed.
Beef and pork by-products of the fresh meats business, along
with fats and oils derived from other sources, are key ingredients
in thousands of products in such diverse industries as
pharmaceuticals, personal care, and animal nutrition, plus the
rapidly developing field of renewable fuels.
“Jacob Stern and Tyson Fresh Meats have enjoyed a strong
relationship for 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,” said Phil Bernstein, Chairman, Jacob Stern & Sons.
Tyson Fresh Meats, based in Dakota Dunes, SD, currently operates
six beef plants and six pork plants in the U.S. Jacob Stern &
Sons is among Tyson’s largest customers for animal by-products and
is the largest U.S. processor and marketer of animal fats.
“We maximize the value of every animal we harvest so that no
part of the animal goes to waste,” stated Steve Stouffer, group
president, Tyson Fresh Meats. “Responsibly processing fats and oils
are a key part of our business and our commitment to
sustainability. This joint venture gives us the opportunity to
continue to value-up our beef and pork production, enabling us to
innovate in new untapped markets while continuing to work directly
with existing animal fat customers and the emerging renewable
energy market.”
Following a transition period, the marketing of all animal fats
generated by Tyson Fresh Meats will be conducted by JST Global
teams in Houston, Dakota Dunes, and Omaha. Jay Van Valen, formerly
President of Jacob Stern & Sons’ Texas Division, will serve as
Chief Executive Officer of JST Global, which will maintain its
headquarters in Houston. The Jacob Stern & Sons and Tyson Fresh
Meats sales teams will collaborate to provide a seamless transition
for customers.
Van Valen said, “With a secured supply, JST Global is strongly
positioned to address the global demand for commodity and
value-added animal fat. 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.”
About Tyson FoodsTyson Foods, Inc. (NYSE: TSN)
is one of the world’s largest food companies and a recognized
leader in protein. Founded in 1935 by John W. Tyson and grown under
three generations of family leadership, the company has a broad
portfolio of products and brands like Tyson®, Jimmy Dean®,
Hillshire Farm®, Ball Park®, Wright®, Aidells®, ibp®, and State
Fair®. Tyson Foods innovates continually to make protein more
sustainable, tailor food for everywhere it’s available and raise
the world’s expectations for how much good food can do.
Headquartered in Springdale, Arkansas, the company has 141,000 team
members. Through its Core Values, Tyson Foods strives to operate
with integrity, create value for its shareholders, customers,
communities and team members and serve as a steward of the animals,
land and environment entrusted to it.
About Jacob Stern & Sons Founded in 1857,
Jacob Stern & Sons is among the longest-running family-owned
businesses in America. Having evolved from its roots in hide
trading, Jacob Stern is a leading distributor of oleochemicals
through its Acme-Hardesty division, located in Blue Bell, PA, and
is the largest US exporter of tallow. Headquartered in Santa
Barbara, CA, Jacob Stern is built upon the values passed down from
its founder: respect, integrity and dependability. Those values,
which are engrained in the company’s culture, have been rewarded
with long-standing relationships and an impeccable reputation.
Contact: Liz Croston, 605-235-3657, liz.croston@tyson.comSteve
Kulchin, 805-695-7243, skulchin@jacobstern.com
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