Pilgrim’s Pride is buying the largest integrated pork processor in the UK, shoring up both its overseas presence and its portfolio of proteins other than poultry.
Pilgrim’s announced Aug. 28 an agreement to buy Tulip Limited for $354 million. Tulip, the UK’s leading hog producer, has about $1.22 billion in annual sales, 12 production facilities and about 6,000 employees. It provides products for its own label, private label and foodservice.
Tulip is being sold to Pilgrim’s by Danish Crown, which will continue to supply Danish pork to Tulip under a long-term contract.
“Pilgrim’s is already strongly positioned within the UK chicken market and would like to strengthen its position within the market for pork,” Jais Valeur, Group CEO of Danish Crown, said in a statement. “On our part, we want to simplify our UK business. Going forward we will supply Danish pork to Pilgrim’s, so all in all the transaction holds out interesting perspectives for both parties.”
Pilgrim's Pride is 75%-owned by Food Processing Top 100© lister JBS.