“Today the cycle has gone to the other extreme, where you have incredibly high chicken prices and very low grain prices,” Fribourg said in the Times report. “It’s not going to last. So at the top of the cycle we’re now looking at ways to lock in either long-term margins, or possibly, for example, take our chicken company public,” he said.
Wayne Farms reports annual sales of approximately $1.9 billion and operates 11 processing facilities in Mississippi, Alabama, Arkansas, Georgia and North Carolina. Combined, the plants process 5 billion lbs. of poultry products per year.
Continental Grain Co. was founded in 1813 and is one of the largest privately held companies in the world with estimated revenues of $14 billion. It was one of the largest shareholders of Smithfield Foods before Shuanghui International [now known as WH Group] acquired the pork processor in September 2013.