Cargill, Continental Grain JV to acquire Sanderson Farms

摘要

A joint venture between Continental Grain Co., New York, and Cargill, Minneapolis, has an agreement in place to acquire poultry processor Sanderson Farms, Inc. for $4.5 billion. The plan is to merge Sanderson Farms with Wayne Farms, a subsidiary of Continental Grain. The transaction is expected to close by the end of 2021 or in early 2022, and Clint Rivers, the chief executive officer of Wayne Farms, will lead the combined companies. "We are very happy to partner with Cargill with whom we have had a decades-long relationship between two family-owned companies," said Paul Fribourg, chairman and CEO of Continental Grain. "Wayne Farms has been one of the most important and successful parts of Continental Grain for almost 60 years, so bringing together two great partners with two great poultry companies will ensure good things for our customers, our grower partners, and our employees."