The consumer backlash against a meat product made from leftovers and treated with chemicals is making a bad situation worse for Cargill Inc. and Tyson Foods Inc. ahead of the beef industry’s peak sales period.
Archer-Daniels-Midland Co. Chief Operating Officer Juan Luciano took on the additional role of president, a title previously held by the current chairman and chief executive officer of the world’s largest corn processor.
The prospect of selling meat under Hillshire Brands Co.’s labels is putting the maker of Jimmy Dean sausages and Ball Park hot dogs on the menu for producers ranging from Tyson Foods Inc. to Hormel Foods Corp. and JBS SA.
Tyson Foods Inc., the second-largest U.S. pork producer, made an unsolicited $6.2 billion offer to buy Hillshire Brands Co., trumping a competing bid from Pilgrim’s Pride Corp. for the maker of Jimmy Dean sausages.
Darling International Inc., the largest U.S. recycler of meat-production byproducts and restaurant cooking oils, agreed to buy a similar business from Vion Food Group Ltd. of the Netherlands for about 1.6 billion euros ($2.2 billion).