Tysons Foods Adds to Prepared Food Business

SPRINGDALE, Ark. — Tyson Foods Inc. has completed its acquisition of Original Philly Holdings, one of the nation's leading producers of raw and fully cooked Philly-style sandwich steak and cheesesteak appetizer products.

"Original Philly Holdings is a natural, strategic fit with our Prepared Foods Business," said Tyson Foods Prepared Foods Group President Sally Grimes. "The Original Philly brand and portfolio of products are highly regarded in the foodservice industry and have a growing list of customer relationships with chain and convenience store operators."

Philadelphia-based Original Philly Holdings consists of two business units: Original Philly Cheesesteak Co., which manufactures raw Philly Style sandwich steak products, and Philadelphia Pre-Cooked Steak Co., which manufactures fully cooked Philly-style sandwich steak products.

Original Philly Holdings' customers include foodservice, retail and convenience store providers. The company employs approximately 250 people and operates two plants.

"We're excited to be part of the Tyson Foods family, which will allow us to build on the legacy of our business," said John Karamatsoukas, president and CEO of Original Philly Holdings. "Tyson Foods is a leader in the food industry and has a strong reputation for successfully acquiring and growing family-owned businesses like ours.

"With deep appreciation for our customers, employees, and vendors' contributions to Original Philly's success, I remain confident that Tyson Foods will honor and operate the business in a manner consistent with the values we embrace," he added.

Integration teams from Tyson Foods and Original Philly have already been formed. The company will remain focused on maintaining high quality customer service during the transition, Tyson stated.

"We look forward to combining our commercial and operational resources with Original Philly Holdings' capabilities to offer new solutions to customers and consumers, expand distribution, and continue the growth and legacy of the business," Grimes said.

Springdale-based Tyson supplies retail and foodservice customers throughout the United States and approximately 115 countries.