Pilgrim's sells plant, finishes restructuring
Jan 1, 2005 12:00 PM
Pilgrim's Pride Corp has sold its Hinton VA commodity turkey production facility and associated feed mill in Broadway VA to the Virginia Poultry Growers Cooperative Inc. This sale is the final part of its previously announced turkey division restructuring. Details of the transaction are not being disclosed.
The Pittsburg TX-based poultry producer said in April that challenging turkey industry conditions prompted its move toward more cost-effective operations and a shift to higher-margin turkey products. Since that time, the company has introduced a Signature turkey line of butter-basted turkey products. These are produced at the Pilgrim's facility in New Oxford PA.
Pilgrim's said its turkey product mix is now two-thirds value-added and one-third branded fresh and frozen products, consistent with its strategies for both turkey and chicken.
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