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Tyson Fresh Meats and Jacob Stern & Sons Launch Joint Venture

Vertically integrated venture positioned to meet evolving global demands for fats and oils

Dakota Dunes, SD and Houston, TX – February 10, 2020 —Tyson Fresh Meats, Inc., the beef and pork subsidiary of Tyson Foods, Inc. (NYSE: TSN) and Jacob Stern & Sons, Inc. have launched a joint venture, JST Global, LLC, to serve the worldwide fats and oils market. Specific terms of the venture are not being disclosed.

Beef and pork by-products of the fresh meats business, along with fats and oils derived from other sources, are key ingredients in thousands of products in such diverse industries as pharmaceuticals, personal care, and animal nutrition, plus the rapidly developing field of renewable fuels.

“Jacob Stern and Tyson Fresh Meats have enjoyed a strong relationship for over 50 years. Combining Tyson’s vast supply of animal fats with Jacob Stern’s Texas operations is a natural evolution and positions JST Global to meet growing worldwide demand,” said Phil Bernstein, Chairman, Jacob Stern & Sons.

Tyson Fresh Meats, based in Dakota Dunes, SD, currently operates six beef plants and six pork plants in the U.S. Jacob Stern & Sons is among Tyson’s largest customers for animal by-products and is the largest U.S. processor and marketer of animal fats.

“We maximize the value of every animal we harvest so that no part of the animal goes to waste,” stated Steve Stouffer, group president, Tyson Fresh Meats. “Responsibly processing fats and oils are a key part of our business and our commitment to sustainability. This joint venture gives us the opportunity to continue to value-up our beef and pork production, enabling us to innovate in new untapped markets while continuing to work directly with existing animal fat customers and the emerging renewable energy market.”

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Following a transition period, the marketing of all animal fats generated by Tyson Fresh Meats will be conducted by JST Global teams in Houston, Dakota Dunes, and Omaha. Jay Van Valen, formerly President of Jacob Stern & Sons’ Texas Division, will serve as Chief Executive Officer of JST Global, which will maintain its headquarters in Houston. The Jacob Stern & Sons and Tyson Fresh Meats sales teams will collaborate to provide a seamless transition for customers.

Van Valen said, “With a secured supply, JST Global is strongly positioned to address the global demand for commodity and value-added animal fat. JST Global’s scale and broad capabilities are key differentiators that will allow us to deliver customized solutions, particularly in highly specialized markets such as renewable energy.”

About Tyson Foods

Tyson Foods, Inc. (NYSE: TSN) is one of the world’s largest food companies and a recognized leader in protein. Founded in 1935 by John W. Tyson and grown under three generations of family leadership, the company has a broad portfolio of products and brands like Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, Aidells®, ibp®, and State Fair®. Tyson Foods innovates continually to make protein more sustainable, tailor food for everywhere it’s available and raise the world’s expectations for how much good food can do. Headquartered in Springdale, Arkansas, the company has 141,000 team members. Through its Core Values, Tyson Foods strives to operate with integrity, create value for its shareholders, customers, communities and team members and serve as a steward of the animals, land and environment entrusted to it.

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About Jacob Stern & Sons

Founded in 1857, Jacob Stern & Sons is among the longest-running family-owned businesses in America. Having evolved from its roots in hide trading, Jacob Stern is a leading distributor of oleochemicals through its Acme-Hardesty division, located in Blue Bell, PA, and is the largest US exporter of tallow. Headquartered in Santa Barbara, CA, Jacob Stern is built upon the values passed down from its founder: respect, integrity and dependability. Those values, which are engrained in the company’s culture, have been rewarded with long-standing relationships and an impeccable reputation.

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Contact: Liz Croston, 605-235-3657, liz.croston@tyson.com

Steve Kulchin, 805-695-7243, skulchin@jacobstern.com

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