Pilgrim’s Pride Corp. is buying the United Kingdom- and Ireland-based consumer meats and meals business of Kerry Group PLC for 819 million euros ($972 million).
The deal comprises Kerry Meats, a manufacturer of branded and private label meats, meat snacks and food-to-go products in the UK and Ireland, and Kerry Meals, which produces ethnic chilled and frozen ready meals in the UK. Together, they had sales of more than £725 million ($1 billion) last year.
“The inclusion of the Kerry Consumer Foods’ Meats and Meals business follows our strategy of a well-balanced portfolio of products, geographies and customer base,” Pilgrim’s Pride Fabio Sandri said in a statement.
The deal is expected to close in the fourth quarter of this year.