Pilgrim’s Pride buys Kerry Consumer Foods’ Meats and Meals business

GREELEY — Pilgrim’s Pride Corp. (NYSE: PPC) has purchased the Meats and Meals business of Kerry Consumer Foods in the United Kingdom and Ireland, it announced Thursday in a news release.

The sale is valued at approximately $952 million.

“We are pleased to have the opportunity to position Pilgrim’s as a leading prepared foods and branded products player through the acquisition of Kerry Consumer Foods’ Meats and Meals business,” said Fabio Sandri, Pilgrim’s’ CEO, in a prepared statement. “The transaction enhances our value-added portfolio by adding market-leading brands such as Denny, Richmond and Fridge Raiders, which we expect to deliver a higher and more stable margin profile.”

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Kerry Meats and Kerry Meals are among the leading meat and meat snack businesses in the U.K., having produced approximately $1 billion in sales during 2020 with more than 4,500 employees, according to the news release. 

The sale is expected to close in the fourth quarter of 2021. 

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