JBS's Pilgrim's expects to acquire smaller companies to expand business
Pilgrim's Pride, an American subsidiary of JBS, remains interested in acquisitions to expand its chicken processing and prepared food business after losing a bidding war for Hillshire Brands, says the chief executive of Pilgrim's.
Pilgrim's wants to expand its poultry operations through the acquisition of processors in regions where it has little or no presence, and to investigate opportunities to acquire other meat processing companies.
In recent months, analysts have speculated that Pilgrim's could buy a smaller company in the poultry sector. Sanderson Farms Inc., with a market capitalization of US$ 2.2 billion, is considered a potential target. The privately held Perdue Farms Inc. and Fieldale Farms Corp.. are also considered potential targets. Bob Evans Farms, Inc., specializing in meat for restaurants and packaged meats, is seen as another potential candidate for acquisition by a large slaughterhouse.
Information provided by CarneTec