PoultryWorld - Pilgrim's Pride sells asset and repays debts


Pilgrim's Pride sells asset and repays debts

US chicken poultry processor Pilgrim's Pride said it has sold its Farmerville chicken complex to Foster Farms for $72.3 mln and has repaid $450 mln in debtor-in-possession financing.

The company added that the final sale price of the complex was revamped to account for inventory and other reimbursements.

US California-based Foster Farms gained a processing facility, cook plant and two hatcheries, as well as a feed mill and a protein conversion plant.

Proceeds from the Farmerville sale will be used to cover general corporate expenses, said Pilgrim’s Pride.

Related link:

Pilgrim's Pride

Foster Farms

Natalie Berkhout

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