Foster Farms buys out Pilgrim's Pride
A release from Pilgrim’s Pride said the transaction is subject to the parties entering into a purchase agreement, as well as the expiration or termination of the waiting period under the Hart-Scott Rodino Improvements Act and approval by the U.S. Bankruptcy Court.
Pilgrim’s Pride expects the transaction will be completed within 30 days from signing the purchase agreement.
“What a relief,” Pilgrim’s Pride grower and Lincoln Parish Police Juror Mike Franklin said. “I feel a whole lot better.
“There’s going to be a lot of chicken farmers in North Louisiana sleeping better tonight.”