October 18, 2019
Pilgrim's Pride buys over UK pork producer
Brazilian-owned food company Pilgrim's Pride Corporation has closed its acquisition of Tulip Limited, a British food producer which was a part of Danish Crown, Nasdaq reported on October 16.
The deal was announced in August this year. The takeover of Tulip Limited is expected to strengthen Pilgrim Pride's geographic presence and position in the UK pork market.
With an annual sales of about £1 billion (US$1.3 billion), Tulip is one of the largest pig producers in the United Kingdom.
In regards to the deal, Danish Crown will continue to supply Danish pork to Tulip as part of a long-term supply contract. This will enable Tulip to maintain its offer of high quality products from European producers.