JBS gets controlling interest in Pilgrims Pride

by Bryan Salvage
Share This:

SÃO PAULO, BRAZIL — JBS S.A. announced on Dec. 28 that JBS USA Holdings Inc., through the subscription of new shares, became the owner of shares representing 64% of the total and voting capital stock of Pilgrim’s Pride Corporation based in Pittsburg, Texas for $800 million, paid in cash. The local bankruptcy court approved the acquisition.

On Dec. 29, Pilgrim’s Pride Corporation's shares will resume trading on the New York Stock Exchange under the ticker "PPC" having spent almost 13 months delisted while the company worked on a successful reorganization plan.

Pilgrim’s Pride Corporation will be controlled by JBS USA, a subsidiary of JBS S.A.






Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.



The views expressed in the comments section of Meat and Poultry News do not reflect those of Meat and Poultry News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.