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Foster Farms
Foster Farms Signs Purchase Agreement for Pilgrim's Pride's Farmerville, Louisiana, Facilities; Transition Plans in Place
May 24th, 2009
Foster Farms is pleased to announce that it has entered into a definitive asset purchase agreement with Pilgrim's Pride Corporation to acquire Pilgrim's Pride's Farmerville, Louisiana, chicken complex for $80 million. Completion of the transaction is subject to customary closing conditions, including government approval and U.S. Bankruptcy Court approval, with an anticipated closing within 14 days. The Farmerville complex includes a chicken processing facility, a cook plant, two hatcheries, a feed mill, and a protein conversion plant. "Foster Farms is looking forward to expanding our operations into the State of Louisiana," said Foster Farms CEO Ron Foster. "Foster...
Source: Pharma Investments, Ventures & Law Weekly (2009-05-24)
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