Tyson to sell Mexican and Brazilian poultry businesses

July 28 Mon Jul 28, 2014 6:35am EDT

July 28 (Reuters) - Tyson Foods Inc, the biggest U.S. meat processor, said it would sell its Mexican and Brazilian poultry businesses to Pilgrims Pride Corp parent JBS SA for $575 million.

Tyson, which also reported a 10.9 percent rise in quarterly sales, said it would use the sale proceeds to pay down debt associated with its $7.7 billion acquisition of Hillshire Brands Co.

Net income attributable to Tyson rose 4.4 percent to $260 million, or 73 cents per share, in the third quarter ended June 28, from $249 million, or 68 cents per share, a year earlier.

Revenue rose to $9.68 billion from $8.73 billion. (Reporting by Lisa Baertlein in Los Angeles and Shailaja Sharma in Bangalore; Editing by Maju Samuel)