Pilgrim's Pride announces $190M investment plan for growth, brand expansion
Pilgrim's Pride Corp., Greeley, Colo., announced a strategic capital investment plan to enhance growth with key customers and expand production of its Pierce Chicken brand. The $190 million strategy, initiated in Q4 2015, is part of a focused effort to reinvest cash flow back into the business to support sustained margin growth and improve efficiencies consistent with the company's continued pursuit of operational excellence.
"We believe one of our competitive advantages is the valued partnership we provide to key customers," says Bill Lovette, president and CEO. "Our cash flow reinvestment plan will present opportunities for our customers to accelerate sales, improve profitability and grow their businesses. Importantly, this effort redirects cash flow back into an area of core business strength in order to maximize return on capital and enhance shareholder value."