Tyson in talks to buy McDonald's fish supplier Keystone

Tyson Foods is holding talks with Brazil's Marfrig to buy Keystone Foods, which supplies fish to global fast food restaurant Chain McDonalds, Reuters reports.

Marfrig acquired Keystone eight years ago under a deal worth nearly $1.3 billion (€1.1 billion).

McDonald’s buys 150 million pounds of beef, 300 million pounds of chicken and 15 million pounds of fish from Keystone.

By selling Keystone the Brazilian conglomerate is expected to more than double the cost of its investment and could get up to $3 billion (€2.6 billion).

Marfrig is likely to use some of the proceeds to help pay for a near $970 million (€828.2 million) controlling stake in National Beef Packing, the US's fourth-largest beef packing company, the Bloomberg agency said in a separate report.