March 20, 2009
Pilgrim's Pride Farmerville plant receives third offer
The offer for Pilgrim's Pride Farmerville plant in Louisiana has increased again, as the state looks to transfer ownership of the plant to save the 1,300 jobs and 300 poultry growers who would be affected by the facility's closure.
Pilgrim's Pride spokesperson Ray Atkinson confirmed the offer Wednesday (Mar 18) and said the company is considering the offer.
The new offer is reportedly US$80 million, of which Louisiana would pay US$50 million and Foster Farmers US$30 million.
Pilgrim's Pride has previously turned down two purchase offers from Louisiana and Foster Farms.
Timmy Teepell, Louisiana Governor Bobby Jindal's chief of staff, did not rule out increasing the state's investment.
Foster Farms is reported to have pledged US$50 million in equipment and other investments in exchange for a commitment to rehire Pilgrim's Pride workers and maintain the plant for at least five years.
