PORTLAND, Maine — Processed food superpower Tyson Foods is looking to buy AdvancePierre, which includes the Barber Foods brand of Portland.
Tyson announced the potential deal on Tuesday. The $4.2 billion acquisition has been approved by the boards of both companies and is pending the approval of regulators.
AdvancePierre bought Barber in 2011 and employs some 300 people in Portland. The company makes frozen, stuffed chicken products.
Tyson says the Barber brand has a "strong heritage" in retail and foodservices markets and the company intends to build on that. The company also says the sale is not subject to a financing condition.
Tyson is headquartered in Springdale, Arkansas, and is the largest processor of chicken, beef and pork in the world. Its well-known brands include Jimmy Dean and Sara Lee.