Pilgrim's Pride Purchases Plantation Plant

Pilgrim's Pride Corp. has agreed in principal to purchase a Waco, TX, prepared foods products plant belonging to Plantation Foods, Inc., a wholly owned subsidiary of Cargill, Inc. Completion of the transaction should occur in approximately 30 days.

"Pilgrim's Pride is experiencing strong demand for our chicken prepared foods products," says Cliff Butler, Pilgrim's Pride's vice chairman, "and the Waco plant acquisition will help us fulfill our customer's needs."

Pilgrim's Pride Corp. operates processing plants, distribution centers, hatcheries and feed mills in Texas, Arkansas, Arizona, Oklahoma and Mexico. Products are sold under the "Pilgrim's Pride" label to food service, retail and frozen entree customers.