Pilgrim’s Pride Corporation (NASDAQ: PPC) was founded in 1946 and started on December 28, 2014. It is a subsidiary of JBS USA Holdings, Inc. , headquartered in Greeley, Colorado, USA. It has 51,300 full-time employees in the United States, Mexico, and Puerto Rico. One of the largest chicken suppliers in China, mainly engaged in the production, manufacture and sale of fresh chicken and chicken processed foods. Its customers are mainly retailers, distributors and catering companies.
Pilgrims Pride Corp (PPC):
Pilgrims Pride Corp. is a Brazilian company. JBS holds 75% of the U.S. company. It is the largest supplier of chicken meat and its products in the United States and Puerto Rico and the second largest supplier of chicken meat in Mexico. It withdrew from bankruptcy protection in December 2009. Moved to the new headquarters in Greeley, Colorado in 2011. Pilgrims Pride had a production capacity of 9.5 billion pounds per week (broiler processing capacity) in 2012, operating in 12 U.S. states, Mexico and Puerto Rico, and sales in 2017 reached 10.7 billion U.S. dollars.
Pilgrim’s Pride Corporation is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products in the United States, United Kingdom, Europe and Mexico. Pilgrims Pride and its Pierce Chicken division are suppliers of KFC , Wendy’s Restaurant , Wal-Mart and Publix.
Pilgrim’s Pride provides fresh chicken products, including pre-marinated or unmarinated chilled (unfrozen) whole chicken or cut chicken; and pre-packaged spare chicken, such as whole chicken and chicken. The company also provides prepared chicken products, including partially controlled brisket, tenderloin and strips, deli products, salads, formed chicken nuggets and patties, and bone chicken parts.
Pilgrim’s Pride Corporation sells its products to the food service market, including chain restaurants, food processors, a wide range of distributors and other institutions; and the retail market, which mainly includes grocery chains, wholesale clubs and other retail distributors. The company also exports products to the Middle East, Asia, the Commonwealth of Independent States, France, Puerto Rico, the Netherlands and other countries.
Pilgrims Pride acquisitions and mergers:
- On December 4, 2006, Pilgrim’s Pride announced the acquisition of Gold Kist, the third largest broiler producer in the United States, for $21/share;
- On September 17, 2009, the Brazilian company JBS USA Holdings, Inc. (a subsidiary of JBS SA, the largest meat processing company in the world) announced the acquisition of 64% of Pilgrim’s Pride;
- On May 27, 2014, Pilgrim’s Pride announced the acquisition of Hillshire Brands for US$6.4 billion. Two days later, Tyson Foods announced a bid for Hillshire for US$8.55 billion. On June 9, 2014, Pilgrim’s Pride announced its withdrawal from the Hillshire acquisition;
- At the end of November 2016, Pilgrim’s Pride purchased Gold N’Plump for US$350 million.
- As of now (April 2018), JBS owns 75.3% of PPC.