JBS set for Pilgrims Pride takeover
JBS is close to a deal to buy bankrupt poultry producer Pilgrim’s Pride for more than $2 billion, recent reports have stated. JBS denied it was committed to any deal and Pilgrim’s Pride has not commented.
JBS is already the third-largest beef producer, after Tyson and Cargill, and the third-largest pork producer, after Smithfield and Tyson. This deal would make it the second-largest chicken producer, after Tyson, with about 18% of the market.
“Meat is not interchangeable. Beef is a market, pork is a market, chicken is a market,” said Andre Barlow, an antitrust lawyer with Doyle Barlow and Mazard who believed the deal would win approval by US antitrust regulators.
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