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Balanced Reporting. Trusted Insights.
Sunday, May 28, 2023
Three poultry companies have agreed to pay $84.8 million to compensate processing plant workers under agreements with the Justice Department that would allow a major acquisition to go forward and could spell trouble for the industry’s “tournament system” of paying growers.
Cargill and Continental Grain completed their acquisition of poultry company Sanderson Farms on Friday, finishing a process that has been heavily scrutinized by the Justice Department.
Cargill and Continental Grain Company have announced plans to acquire Sanderson Farms, the third-largest poultry producer in the nation, for $4.53 billion.
Pilgrim’s Pride has agreed to pay $75 million to settle price-fixing claims made in a lawsuit brought by the chicken industry giant's customers in Illinois.
