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Foster Farms
Foster Farms Purchase Agreement for Pilgrim's Pride Farmerville, Louisiana, Facilities Nears Completion; Transition Plans in Place
May 17th, 2009
Foster Farms announced that it continues negotiations with Pilgrim's Pride to acquire Pilgrim Pride's Farmerville, Louisiana Complex. The sale will be subject to customary closing conditions, including government approval and bankruptcy court approval, and is anticipated to close within 30 days after signing. "As of May 8, 2009, Pilgrims Pride will idle the Farmerville Complex, and its operations will be transferred to other Pilgrim's Pride facilities," said Foster Farms CEO Ron Foster. "Foster Farms is looking forward to expanding our operations into the State of Louisiana. Foster Farms anticipates upgrading and adding to the capabilities of the Farmerville complex....
Source: Pharma Investments, Ventures & Law Weekly (2009-05-17)
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