Pilgrim’s Pride completed the acquisition of Tulip for $354m.

Pilgrim’s Pride, a Brazilian-owned, multi-national food company, completed its acquisition of Tulip, an integrated prepared foods supplier with 12 fresh and value-added operations in the United Kingdom, from Danish Crown, a Danish food processing company, for $354m. “We are pleased to strengthen our European foods platform with the acquisition of Tulip Limited, which positions Pilgrim’s as a leading global prepared foods player. The transaction represents the logical next step in our evolution to expand our geographical footprint, enhance our value-added portfolio and reduce volatility across our business with a more stable margin profile. Tulip Limited’s integrated production platform, consumer-ready innovation capabilities, well-invested assets, established customer relationships and strong leadership team will solidify Pilgrim’s platform for growth in the attractive UK market.” Jayson Penn, Pilgrim’s Global Chief Executive Officer.