Pilgrim’s Pleasure CEO Fabio Sandri mentioned the corporate is trying to develop, and acquisitions may very well be part of that development plan.
Nonetheless, he mentioned that the corporate desires to ensure any firm or facility acquired matches with the current operations.
“We’ll all the time be a prudent acquirer,” Sandri mentioned throughout a quarterly earnings name on August 1. “Previously, we’ve confirmed that we will create worth on acquisitions, and there’s been a number of alternatives out there.”
In accordance with Sandri, there are “three main constructing blocks” Pilgrim’s Pleasure considers when pursuing an acquisition.
1. Hen
Whereas Pilgrim’s Pleasure does have pork operations in its European enterprise, he mentioned rooster is a protein through which the corporate has confirmed it will probably excel with and create shareholder worth.
2. Ready meals
Sandri mentioned one key means for Pilgrim’s Pleasure to distinguish its portfolio is thru branded ready meals choices.
“We glance to develop that enterprise,” he mentioned.
Whereas Pilgrim’s has expanded its ready meals choices largely via natural development, “however we’re all the time searching for alternatives both in the U.S. or overseas to extend the portfolio for ready meals,” Sandri mentioned.
3. New geographies
Sandri mentioned the opposite standards for a possible acquisition is that it’s “a special geography for the rooster classes.”
He didn’t specify whether or not these be in areas of the United States the place Pilgrim’s operates, or in new international locations.
Previously, the U.S.-based Pilgrim’s Pleasure has made its entrance into new international locations with the acquisition of its Mexican operations from Tyson Meals in 2015 and the acquisition of Northern Eire-based Moy Park in 2017.
Pilgrim’s Pleasure Corp. relies in Greeley, Colorado. The corporate produced 161.7 million kilos of ready-to-cook rooster on a weekly foundation in 2023, in keeping with info from the WATTPoultry High Poultry Corporations Database.
