Tyson Foods Reportedly Make Bid For Goldman's Michael Foods

(RTTNews) - Meat products provider Tyson Foods, Inc. (TSN) is said to have made a bid to acquire Michael Foods Group Inc., the processing and distribution business owned by Goldman Sachs Group's private-equity arm, according to Bloomberg. Reports added that more bids in the neighborhood of $2 billion can come from food companies and other private-equity companies.

Tyson aims for revenue growth of 6 percent to 8 percent for its value-added foods. Last year, the firm acquired Bosco's Pizza Co., Circle Foods LLC and Don Julio Foods Inc.

Michael Foods sells products under several brands that would be a good fit for Tyson, including Simply Potatoes, Papetti's Easy Eggs, and Crystal Farms cheese. It has annual net sales of over $1.5 billion.