Cautious optimism over Tulip sale hoping to become ‘leading European food company’

The country’s largest pig producer has been purchased by Pilgrim’s Pride.

 

Alex Black, Farmers Guardian (UK) 

05 Sep 2019

 

There was cautious optimism across the pig industry following news Tulip will be acquired by global meat giant Pilgrim’s, as it looks to establish itself as a ‘leading European food company’.

 

Pilgrim’s Pride Corporation announced it had signed a contract to acquire Tulip from Danish Crown in a deal which valued Tulip at £290 million.

 

Although its headquarters are in the US, it is owned by Brazilian meat giant JBS.

 

Pilgrim’s Pride already has a presence in the UK market, owning Northern Ireland-based Moy Park.

 

Global chief executive officer Jayson Penn said it positioned Pilgrim’s as a leading global prepared foods player and was the ‘next logical step’ for the company.

 

Dr Zoe Davies, chief executive of the National Pig Association (NPA), said it was generally being seen as a positive move, although it was early days.

 

“It was well known Danish Crown were trying to get shot of it,” she said.

 

“I would still be interested in what the strategic importance would be and what is going to happen.”

 

Investment ...

 

more

https://www.fginsight.com/news/news/cautious-optimism-over-tulip-sale-hoping-to-become-leading-european-food-company-92896