Pilgrim’s Pride is embarking on an aggressive capital expansion program, which will include a new plant in the Southeast.
Pilgrim’s Pride, majority-owned by JBS SA, will build a new prepared-foods plant in a yet-unspecified location in the Southeastern U.S. Other projects include an expansion of a chicken processing facility in Athens, Ga., a new facility for processing “pet-food proteins” in Georgia, and a push to increase automation across its U.S. operations.
“Taken together, these investments will simultaneously enable sufficient capacity for top-line growth with our key customers, enhance operating margins, create value for our shareholders, and provide opportunities for a better future for our team members,”Ceo Fabio Sandri said in a statement.
Pilgrim’s posted strong results for the second quarter. Net sales were $4.63 billion, up 27% from the same period last year. Adjusted earnings were $623.3 million, up 68% year-over-year.
Sandri attributed the success in part to operational improvements. “Investments in automation and in our hourly team members and their communities led to significant progress in net staffing levels, enabling our operations to realize the benefits of strong market fundamentals,” he said.