NORTHERN Ireland's biggest private employer Moy Park has been bought by US poultry giant Pilgrim's Pride in a deal worth £1 billion.
The UK’s largest poultry producer, which employs over 9,000 people, was put up for sale earlier this year by Brazilian owners JBS and today it has been confirmed that the Craigavon headquartered company has been purchased by Pilgrim's in a move the US firm believes will help it become a "global player" in the market.
“We are pleased to announce the acquisition of Moy Park, which will position Pilgrim's to become a global player, with an improved and more stable margin profile on the chicken business and an expanded portfolio of prepared foods,” Bill Lovette, Pilgrim’s chief executive officer said.
"Moy Park strengthens Pilgrim’s’ leading portfolio of brands and brings strong value-added innovation capabilities, access to new markets, a best-in-class production platform and strong farmer partner relationships."
Moy Park chief executive Janet McCollum described the deal as a "positive development".
"Pilgrim’s is one of the leading chicken producers in the world with a proven track record and we see great opportunities for Moy Park as part of this successful business. Joining Pilgrim’s gives us the opportunity to accelerate our growth plans, share best practices and leverage Pilgrim’s expertise and operational excellence."
