Moy Park sold: Northern Ireland chicken giant sold for €1.1bn
Moy Park has been sold to a US food firm for $1.3bn (£1bn).
Pilgrim’s Pride Corporation today announced that it has acquired Moy Park – one of Northern Ireland's biggest firms, which has its headquarters in Craigavon.
It had been owned by Brazilian firm JBS.
Janet McCollum, chief Executive of Moy Park, said the “announcement is a positive development for Moy Park and all our colleagues employed across the business”.
“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.”
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.