March 14, 2009

Pilgrim's Pride considers upped offer for North Louisiana plant

Pilgrim's Pride is studying a US$60 million offer for its Farmerville chicken processing plant scheduled for closure.

The deal is brokered by Louisiana Governor Bobby Jindal, who will be having more discussions with his staff and Pilgrim's Pride, the Texas-based company said.

Pilgrim's Pride on Wednesday (Mar 11) rejected a US$40 million purchase price from California-based Foster Farms. Half of the US$40 million would have come from the state in incentives.

The plant's closure would eliminate 1,300 jobs and affect farmers who supply the chickens.