Who is Pilgrim’s Pride?
Pilgrim’s Pride is a leading poultry producer in the United States. The company was founded in 1946 in Pittsburg, Texas, and has grown to become one of the largest chicken producers in the world. Pilgrim’s Pride operates in both the fresh and frozen poultry markets, providing chicken products to retail stores, restaurants, and foodservice distributors.
The history of Pilgrim’s Pride ownership
For many years, Pilgrim’s Pride was family-owned and operated. However, in 1986, the company went public and began trading on the NASDAQ stock exchange. In the years that followed, Pilgrim’s Pride experienced a number of ownership changes and controversies. The company was acquired by ConAgra Foods in 1989, but was later sold to Gold Kist in 2003. In 2009, Pilgrim’s Pride filed for bankruptcy due to rising feed costs and oversupply in the poultry industry. The company was later acquired by JBS S.A., a Brazilian meatpacking company.
Ownership changes and controversies at Pilgrim’s Pride
Pilgrim’s Pride has experienced a number of ownership changes and controversies over the years. In the 1990s, the company was accused of price-fixing and was fined $10 million by the U.S. Department of Justice. In 2009, the company filed for bankruptcy due to rising feed costs and oversupply in the poultry industry. In 2010, the company was accused of violating antitrust laws and was fined $26 million by the U.S. Department of Justice. In 2020, Pilgrim’s Pride and several other poultry producers were accused of price-fixing and were hit with a class-action lawsuit.
Recent ownership structure of Pilgrim’s Pride
In 2009, Pilgrim’s Pride was acquired by JBS S.A., a Brazilian meatpacking company. JBS is one of the largest meatpacking companies in the world, and has a significant presence in the United States. Pilgrim’s Pride operates as a subsidiary of JBS USA Holdings, Inc., which is a wholly-owned subsidiary of JBS S.A.
The role of JBS in Pilgrim’s Pride ownership
JBS S.A. is the ultimate parent company of Pilgrim’s Pride. The acquisition of Pilgrim’s Pride by JBS has allowed the company to expand its presence in the United States and become one of the largest poultry producers in the world. JBS has also provided financial backing and operational support to Pilgrim’s Pride, helping the company to improve its financial performance.
Who owns the majority of Pilgrim’s Pride?
As a subsidiary of JBS USA Holdings, Inc., Pilgrim’s Pride is ultimately owned by JBS S.A. JBS S.A. is a publicly-traded company, and the majority of its shares are owned by the Batista family, who founded the company.
Pilgrim’s Pride ownership and financial performance
Since its acquisition by JBS, Pilgrim’s Pride has seen significant improvements in its financial performance. The company has reported strong revenue growth and has improved its profitability. However, the company has also faced challenges in recent years, including rising feed costs and oversupply in the poultry industry.
Impact of ownership on Pilgrim’s Pride operations
The ownership structure of Pilgrim’s Pride has had a significant impact on the company’s operations. As a subsidiary of JBS, Pilgrim’s Pride has benefited from the financial backing and operational support of a large and well-established meatpacking company. JBS has also provided Pilgrim’s Pride with access to new markets and distribution channels, helping the company to expand its presence in the United States and around the world.
Current state of Pilgrim’s Pride ownership
As of 2021, Pilgrim’s Pride is a subsidiary of JBS USA Holdings, Inc., which is a wholly-owned subsidiary of JBS S.A. The Batista family, who founded JBS, owns the majority of the company’s shares.
Future outlook for Pilgrim’s Pride ownership
It is likely that Pilgrim’s Pride will continue to operate as a subsidiary of JBS for the foreseeable future. The acquisition of Pilgrim’s Pride has been a key part of JBS’s strategy to expand its presence in the United States and become one of the largest meatpacking companies in the world. As long as Pilgrim’s Pride continues to perform well, it is unlikely that there will be any significant changes to the company’s ownership structure.