Pilgrim's Pride completes Gold Kist acquisition

by FoodBusinessNews.net Staff
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PITTSBURG, TEXAS — Gold Kist, Inc. is now a wholly owned subsidiary of Pilgrim’s Pride Corp., the largest chicken company in the world. The announcement was made following a successful cash tender offer of $21 per share of Gold Kist stock, plus the assumption of debt.

"We are extremely pleased that the final step in our successful acquisition of Gold Kist has now been completed," said Lonnie (Bo) Pilgrim, chairman of Pilgrim’s Pride. "We begin 2007 as the preeminent player in the chicken industry, positioned for long-term growth, leadership and value creation for our customers and stockholders."

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