The Monroe (La.) News-Star said a U.S. Bankruptcy Court judge approved and finalized the $80 million sale of Pilgrim's Pride Corp.'s chicken processing plant in Farmerville, La.
Pilgrim's Pride Corp., Pittsburg, Texas, said it signed a definitive agreement to sell its chicken complex in Farmerville, La., for $80 million to Foster Farms.
The Associated Press reported that chicken processing giant Pilgrim's Pride Corp., Pittsburg, Texas, will start procedures to possibly sell two more plants.
There are enough opinions, theories and issues behind the story of Pilgrim’s Pride and its mid-February decision to officially “idle” three plants - that the resulting ruckus could be compared to a hen house, complete with flying feathers and lots of squawking.
Pilgrim's Pride Corp., Pittsburg, Texas, said it will close its Dalton, Ga., chicken processing plant within 60 days and consolidate production into the company's Chattanooga, Tenn., operation.
After several rounds of reported negotiations, Pilgrim's Pride Corp., Pittsburg, Texas, said it agreed to sell its Farmerville, La., chicken complex for $80 million to Foster Farms.
Having already rejected one offer, meat industry media reported that Pilgrim's Pride Corp., Pittsburg, Texas, rejected a second, larger $60 million offer for its Farmerville, La., poultry plant from Foster Farms.
Meat industry media reported that Pilgrim's Pride Corp., Pittsburg, Texas, rejected a joint $40 million offer for the company's Farmerville, La., plant from competitor Foster Farms, Livingston, Calif.