Pilgrim’s takes pride in new Moy Park buy-out

Northern Ireland-based chicken processing company Moy Park has been sold to United States food giant Pilgrim’s Pride Corporation in a deal worth $1.3 billion (£1 billion).

Moy Park’s original Brazilian owners JBS had put the company up for sale earlier this year in a bid to pay off some of its debts.

The new US owners say the acquisition will allow them to trade into the lucrative UK markets and further into Europe.

Already Pilgrim’s Pride operates chicken processing plants and prepared- foods facilities in 14 states in America, Puerto Rico and Mexico, employing around 42,000 people.

Janet McCollum, Moy Park’s chief executive, said: “Pilgrim’s is one of the leading chicken producers in the world with a proven track record and we see great opportunities for Moy Park as part of this successful business.

“Joining Pilgrim’s gives us the opportunity to accelerate our growth plans, share best practices and leverage Pilgrim’s expertise and operational excellence.

“Moy Park will provide Pilgrim’s with a platform for growth in Europe as well as access to innovation and increased exposure to prepared foods,” she added.

With its new owners in place Moy Park’s HQ will remain in Craigavon, County Armagh, where Ms McCollum and her team will continue to run the business.

Bill Lovette, Pilgrim’s chief executive, said: “We are pleased to announce the acquisition of Moy Park, which will position Pilgrim’s to become a global player, with an improved and more stable margin profile on the chicken business and an expanded portfolio of prepared foods.

“Following our successful acquisitions of GNP and the assets in Mexico, Moy Park represents a logical next step in the evolution of our geographical and brands footprint.”

Moy Park handles almost six million birds a week in 13 plants across the UK, Ireland, the Netherlands and France.