Pilgrim’s Pride closes U.K. acquisition
GREELEY — Pilgrim’s Pride Corp. (Nasdaq: PPC) closed its nearly $1 billion buy of Kerry Consumer Foods’ prepared foods business.
The meat processor said in June it planned to buy the unit and this month issued $900 million in notes to close the deal.
The final purchase price allowing for current exchange rates was $932 million. The new division will be run under Pilgrim’s European operations.
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Pilgrim’s Pride employs about 59,000 people in North America and Europe, including some 3,000 in Greeley. It’s majority owned by JBS SA in Brazil, which recently bid to buy the rest of the company.
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GREELEY — Pilgrim’s Pride Corp. (Nasdaq: PPC) closed its nearly $1 billion buy of Kerry Consumer Foods’ prepared foods business.
The meat processor said in June it planned to buy the unit and this month issued $900 million in notes to close the deal.
The final purchase price allowing for current exchange rates was $932 million. The new division will be run under Pilgrim’s European operations.
Pilgrim’s Pride employs about 59,000 people in North America and Europe, including some 3,000 in Greeley. It’s majority owned by JBS SA in Brazil, which recently bid to buy the rest of the company.
© BizWest…
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