3-23 news: Foster Farms to acquire Pilgrim's plant
“Foster Farms is pleased to have reached an agreement with Pilgrim's Pride for the purchase of their Farmerville chicken production complex,” said Foster Farms CEO Ron Foster. “This purchase represents a significant opportunity for the Farmerville community and for our family-owned poultry company.”
“Consistent with what we have said from the beginning, we would consider selling the complex if we received a meaningful offer reflective of the value for these assets,” said Don Jackson, president and CEO of Pilgrim’s Pride. “We believe this sale at this price is in the best interests of all parties involved, including our employees, growers, the Farmerville community, and our creditors. We appreciate the support and efforts of Louisiana Governor Bobby Jindal and his staff working to bring this process to a satisfactory conclusion for everyone involved.”