JBS increases stake in Pilgrim's
March 14, 2012
by Meat&Poultry Staff
SÃO PAULO, Brazil – JBS has increased its stake in Pilgrim's Pride above 75 percent when the company bought out Bo Pilgrim, who left the Pilgrim's board after more than 60 years with the company, according to a report by Agrimoney.com.
Pilgrim and two family trusts sold 18.9 million shares in the company to JBS, according to Agrimoney. JBS's share in Pilgrim's Pride is now 75.3 percent after paying $107.6 million or $5.70 per share.