Pilgrim’s to acquire Tulip Ltd., create integrated prepared foods company in Europe
Tulip Ltd. is dubbed the largest pig producer in the UK.
Pilgrim’s Pride Corp., Greeley, Colo., announced plans to acquire Tulip Ltd., a UK-based integrated prepared foods supplier with 12 fresh and value-added operations in the United Kingdom, from Danish Crown, Denmark. This transaction creates what is said to be one of the largest integrated prepared foods businesses in the UK with a portfolio of brands and retail private label solutions.
“We are pleased to strengthen our European foods platform with the acquisition of Tulip Ltd., which positions Pilgrim’s as a leading global prepared foods player,” says Jayson Penn, global chief executive officer for Pilgrim’s. “The transaction represents the logical next step in our evolution to expand our geographical footprint, enhance our value-added portfolio and reduce volatility across our business with a more stable margin profile. Tulip Ltd.’s integrated production platform, consumer-ready innovation capabilities, well-invested assets, established customer relationships and strong leadership team will solidify Pilgrim’s platform for growth in the attractive UK market.”