Pilgrim’s Pride makes $1 billion acquisition of overseas company

GREELEY — Pilgrim’s Pride Corp. (Nasdaq: PPC) has acquired poultry and food supplier Moy Park, which has operations in the United Kingdom and Europe.

Pilgrim’s acquired the company from JBS S.A. for about $1 billion. The enterprise value is expected to be about $1.3 billion.

The deal was approved unanimously by a special committee of Pilgrim’s board of directors.

The acquisition of Moy was a logical one for…