California-based Foster Farms plans to buy Pilgrim’s Pride Corp.’s chicken processing plant in Farmerville, La., according to an Associated Press news report.
Pilgrim’s Pride recently announced ceasing operations at three of its 32 plants, effective mid-May. The company filed for reorganization under the U.S. Bankruptcy Code in December last year.
Ron Foster, chief executive, Foster Farms, said the company would be upgrading plant facilities and, combined with the local workforce, hopes to build strong business.
Foster Farms is reportedly buying the plant for US$80 million, though no formal agreement has been signed yet and the transaction is subject to court conditions and approvals.
