Bankruptcy court okays sale of Pilgrim's Pride plant

by Staff
Share This:

FARMERVILLE, LA. — The U.S. Bankruptcy Court for the Northern District of Texas has approved the sale of the Pilgrim’s Pride chicken processing plant in Farmerville to Livingston, Calif.-based Foster Farms.

Although the plant closed after Pilgrim’s Pride filed for financial reorganization, the court’s May 19 approval is a major step in Louisiana’s plan to save the facility. Foster Farms has agreed to buy the plant for $80 million. Approximately 1,300 workers lost their jobs earlier this month after the plant closed

According to legislation now under consideration, the state of Louisiana would contribute $50 million, plus another $10 million toward equipment upgrades.

Foster Farms plans to open the plant by mid-July.

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.



The views expressed in the comments section of Food Business News do not reflect those of Food Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.