MOY PARK GOLDEN EGG

Chicken firm is sold for £999m

CHICKEN processors Moy Park has been sold for £999million – the third time in nine years a Brazilian-owned firm has acquired the company.

Pilgrim’s Pride bought the poultry producers from its own parent company JBS SA, following a corruption probe into its controlling shareholders.

Moy Park – Northern Ireland’s biggest private sector employer – was bought from Marfrig for £998million in 2015.

Pilgrim’s Pride chief Bill Lovette said: “Moy Park represents a logical next step in the evolution of our geographical and brands footprint.

“The acquisition gives us access to the attractive UK and European markets, which advances our strategy of diversifying our portfolio to be more global while reducing volatility across our businesses.”

Moy Park chief executive Janet Mccollum said: “This is a positive development. Pilgrim’s is one of the leading chicken producers in the world and we see great opportunities as part of this successful business.”

Ulster Unionist leader Robin Swann had called on the firm to confirm its commitment to Northern Ireland.

He added: “It had been a concern the company may have been acquired by a firm that neither had the experience of processing chickens nor really understood the global poultry market. “Those concerns have not come to fruition.” Moy Park was established in Dungannon, Co Tyrone, in 1943 and processes more than 5.7million birds per week and has 13 plants across the UK, Ireland, France and the Netherlands.