Tyson Foods Inc. recently gave its fourth quarter update, including commentary about its latest line, Freshpet.

"We're happy with the rollout of Freshpet , our lines for refrigerated petfood, consumer acceptance is high, and new products are driving share growth," said Donnie Smith, president and CEO of Tyson. "We're in a test to rollout with most national retailers and are poised for expansion."

The company also plans on entering the pet treat market by reopening the idle plant in Iowa , USA, for pet treat production.

To read the full transcript of the update, click here .