ShareThis
JBS Buys Majority Stake in Pilgrim's Pride
Brazilian beef concern JBS SA has agreed to purchase a 64 percent stake in Pilgrim's Pride, the second largest US chicken producer that had been in Chapter 11 bankruptcy due to debt and high feed costs. JBS is already a major beef and pork producer and this deal will give it entry into the U.S. poultry market. It entered the U.S. market in 2007 with its acquisition of Swift & Co. and then acquired Smithfield Beef Group in 2008. The $800 million Pilgrim's Pride deal is contingent on approval from regulators, which earlier this year sued to block JBS's bid to purchase National Beef Packing Co., a deal that was subsequently dropped.
Want to use this article? Click here for options!
© 2012 Penton Media Inc.
Acceptable Use Policy blog comments powered by Disqus
Sign up for FM's events, products and services!
Recipe Searchadvertisement
NRA Show Videos & Issue Highlights
- Bake'n Joy - Learn how
easy it is to bake the Perfect Muffin with Bake’n Joy’s premium prescooped, predeposited muffin
batters.
View the video - The Clymate IQ Is Pure Genius
See new products, services and ideas we found at the 2011 show.
View more sponsored videos
advertisement
advertisement
Photo Gallery
Food Management is now on:
 |
 |
