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Tue Aug 10, 2021, 01:01 PM

Mississippi-based poultry producer Sanderson Farms sold for $4.5B

Sanderson Farms, one of the nation's largest poultry producers, is being acquired for $4.53 billion as the price of chicken soars.

Cargill and privately held Continental Grain formed a joint venture to acquire Sanderson and will pay $203 per share in cash for a company that last year processed more than 4.8 billion pounds of meat.

The companies plan to combine Sanderson Farms with Wayne Farms, a Continental Grain subsidiary, to form a new, privately held poultry business. Operations will include poultry processing plants and prepared foods plants across Alabama, Arkansas, Georgia, Louisiana, Mississippi, North Carolina, and Texas.

Wayne Farms has more than 9,000 employees. It makes products under brand names including Wayne Farms fresh and prepared chicken; Platinum Harvest premium fresh chicken; Chef's Craft gourmet chicken; Naked Truth premium chicken and Ladybirdy premium chicken.

Read more: https://www.clarionledger.com/story/news/2021/08/09/sanderson-farms-sold/5535815001/

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