GNP Co.'s operational competencies and use of innovative technologies, including gas stunning, aeroscalding and automated deboning, will enable Pilgrim's to significantly increase the rate of adoption of new technologies in existing facilities.
Pilgrim's Pride Corp., Greeley, Colo., announced a definitive agreement to acquire GNP Co., a St. Cloud, Minn.-based provider of premium branded chicken products in the Upper Midwest, for $350 million. It is anticipated that the proposed transaction would close during the first quarter of 2017, subject to regulatory review and approval and customary closing conditions.
"The Pilgrim's team is excited to combine the collective strengths of Pilgrim's Pride and GNP Co.," says Bill Lovette, chief executive officer of Pilgrim’s Pride, a division of JBS USA. "GNP Co. boasts outstanding state-of-the-art assets in geographic areas where Pilgrim's is not currently present, providing Pilgrim's the opportunity to expand our production and customer bases, while maintaining our high standards for quality service and great-tasting products."