Tyson Foods Unveils Chicken Product Innovations; Company Introduces 100% All Natural Marinated Fresh Chicken
May 18, 2006
New York City – As part of ongoing efforts to create more value-added products, Tyson Foods, Inc. (NYSE: TSN) has developed three new product innovations in its retail chicken business. The company provided details today at an investor conference in New York City.
Tyson has introduced 100% All Natural Marinated Fresh Chicken, which contains no artificial ingredients. The company will also soon offer consumers two new convenience driven product lines. They include Trimmed and Ready™ fresh chicken, which is hand trimmed and ready to cook, as well as individually wrapped, boneless chicken breasts for consumers who choose to freeze some of the product for later use.
“We’re excited about each of these new product initiatives and the value they bring to the Tyson brand of retail chicken,” said Bill Lovette, Tyson senior group vice president of Poultry and Prepared Foods, who spoke Thursday at the Harris Nesbitt Agriculture and Protein Investor Conference. “They will provide today’s consumers with more of what they want -- all natural, great tasting products as well as convenience, which will elevate our brand.”
“To have a strong brand in beef and pork, we must maintain the strength of our branded, fresh chicken program. It’s very important to our company and our brand to continue innovating in this category,” he added.
The 100% All Natural, Trimmed and Ready and individually wrapped products are being rolled out as part of the ongoing “Powered by Tyson” marketing program. The company plans to spend $5 million on TV and radio spots to support these specific products.
All Natural Chicken100% All Natural
Tyson began producing 100% All Natural Marinated Fresh Chicken on May 1. It includes a new, consumer-friendly packaging design, which communicates the attributes of the product: all natural, no artificial ingredients and the endorsement of the American Heart Association.
“We believe our unique, proprietary process for producing our marinated, fresh product is unmatched in the industry,” Lovette said.
The Tyson marinated line’s ingredient statement is very simple: chicken, chicken broth, sea salt and natural flavor. It has significantly lower sodium than competing brands of marinated fresh chicken. Other so-called “natural enhanced” fresh chicken brands have taken the approach of removing phosphates and replacing them with additional sodium.
“An increasing number of consumers tell us they want all natural chicken, yet prefer the taste and juiciness of marinated product,” Lovette said. “That’s why we’ve initiated this new line. Marinated chicken is more forgiving for the home cook because it turns out tender and juicy. And it just tastes better.”
Trimmed and ReadyTrimmed and Ready
Tyson’s new Trimmed and Ready™ fresh chicken is a line of seven premium cuts. Each is hand trimmed and selected to deliver the highest quality chicken. There is no additional trimming or handling required by consumer.
“Considering more than three-quarters of all fresh meat purchases are fresh chicken, and more than half of consumers are currently trimming fat prior to cooking, we believe our Trimmed and Ready™ products will fill a real consumer need,” according to Lovette.
Individually WrappedIndividually Wrapped
The Trimmed and Ready™ products will be rolled out in June along with individually wrapped Tyson boneless, skinless fresh chicken breasts. The re-sealable outer bag holds individually wrapped portions, allowing consumers to take out only the number of pieces they need.
“We developed this product for the 66% of consumers who buy fresh boneless skinless breasts and freeze them for later use,” Lovette said. “Each portion is packaged to be leak resistant to reduce clean-up and improve the thawing process. It’s also great for people who don’t like to handle raw chicken.”
Approximately 45 percent of consumers who buy boneless breast meat are feeding one to two people. “We think the bag-in-bag product will drive incremental volume by increasing household penetration among light users who would prefer individual portions,” he said. “At the same time, heavy and medium users of fresh chicken can trade up for the added convenience of freezer ready.”
The company anticipates extending the individually wrapped concept to other products.
Tyson Foods, Inc. [NYSE: TSN], founded in 1935 with headquarters in Springdale, Arkansas, is the world’s largest processor and marketer of chicken, beef, and pork, the second-largest food company in the Fortune 500 and a member of the S&P 500. The company produces a wide variety of protein-based and prepared food products, which are marketed under the “Powered by Tyson™” strategy. Tyson is the recognized market leader in the retail and foodservice markets it serves, providing products and service to customers throughout the United States and more than 80 countries. The company has approximately 114,000 Team Members employed at more than 300 facilities and offices in the United States and around the world. Through its Core Values, Code of Conduct and Team Member Bill of Rights, Tyson strives to operate with integrity and trust and is committed to creating value for its shareholders, customers and Team Members. The company also strives to be faith-friendly, provide a safe work environment and serve as stewards of the animals, land and environment entrusted to it.
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