17 hours ago - Business

Meatpacking giant offers to buy rest of Pilgrim's Pride

Dan Primack

Illustration of the Wall Street bull statue with a bronze statue of a chicken, both standing on a light gray surface with detailed features and a shiny finish. — Illustration: Maura Losch/Axios

JBS of Brazil offered to buy the 18% stake it doesn't already hold in Colorado-based Pilgrim's Pride for around $1.2 billion in stock.

Why it matters: This would give the world's largest meatpacker full control of America's second-largest poultry producer (behind Tyson Foods).

By the numbers: Pilgrim's Pride stock is down over 28% on the year, while JBS is off nearly 4% in New York.

The bottom line: JBS bought Pilgrim's Pride out of bankruptcy in 2009, and four years ago tried buying the minority stake it didn't already hold. But that deal didn't move forward, in part because São Paulo-listed JBS didn't have a U.S. stock currency to offer Pilgrim's Pride investors.

That changed when JBS did a 2025 listing on the NYSE.

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Meatpacking giant offers to buy rest of Pilgrim's Pride

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