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Tyson Foods wins $700mn Pentagon beef contracts

A unit of Tyson Foods has reportedly won two contracts worth more than US$700m to supply fresh beef and frozen ground beef to the US Pentagon.

The news agency has reported that Tyson Fresh Meats secured a $440m deal with the Pentagon to supply military commissaries in the central and eastern US regions.

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The second contract is worth $286.6m to supply the same line of products to commissaries in the U.S. western and Pacific regions.

Both deals are set to run for two years from 2018 to 2020, with a possible option to extend the contracts through to 17 October 2023, the news agency reported. 

Meanwhile, Bloomberg has reported that Tyson has agreed to buy chicken-nugget maker Keystone Foods LLC for approx $2.5 billion, although there has been no official confirmation.