Legal News

Pilgrim’s Pride Enters Takeover Bid of Hillshire Brands
Download PDF

On Tuesday, a takeover bid of Hillshire Brands was launched by Pilgrim’s Pride, according to the Associated Press. Should the takeover occur, Pilgrim’s Pride would expand its offerings to include Jimmy Dean sausages and Ball Park hot dogs.

The offer, for $5.58 billion, could kill the plans of Hillshire to purchase Pinnacle Foods, which is the maker of Hungry Man frozen dinners, Birds Eye frozen vegetables and Duncan Hines cake mixes. Hillshire announced the expansion deal earlier in May, for $4.23 billion, so it could move into multiple areas of the supermarket business.


“As you are well aware, it has long been our desire to acquire the company,” Pilgrim’s said in a public letter to Hillshire CEO Sean Connolly.

Hillshire said it would review the proposal from Pilgrim as part of its fiduciary duties. It also said in a statement that the company strongly believes in “strategic merits and value creation potential” of the deal with Pinnacle Foods.

Pilgrim’s Pride is majority-owned by JBS, a Brazilian meat company. The deal is valued at $6.4 billion by Pilgrim’s Pride when debt is included in the numbers.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!

Ken Goldman, an analyst for J.P. Morgan, said the following in a note to investors: “Joining two protein companies makes a lot more sense than marrying a meat company with one that has a focus on frozen vegetables.”

Pilgrim’s Pride, which is headquartered in Colorado, said the deal could close by the third quarter of 2014. It also noted that it would pay the $163 million termination fee to end the deal with Pinnacle Foods.

Check out for all available jobs opening in food industry.





Search Now

Attorney with 3-7 years of litigation experience


Chicago office of our client seeks attorney with 3-7 years of litigation experience. The candidate s...

Apply Now

Defense Attorney with 3-4 years of litigation experience

USA-CA-San Francisco

San Francisco office of our client seeks defense attorney with 3-4 years of solid litigation experie...

Apply Now

Mid-level IP Litigation Attorney with electrical engineering experience

USA-CA-San Francisco

San Francisco office of our client seeks mid-level intellectual property attorney with 3-5 years of ...

Apply Now

Labor and Employment Attorney with 3-4 years of litigation experience

USA-CA-Los Angeles

Los Angeles office of our client seeks labor and employment attorney with 3-4 years of litigation ex...

Apply Now


Executive Legal Assistant

USA-OK-Oklahoma City

We have an immediate opening for an Executive Legal Assistant to the Chief Legal Officer in a fast p...

Apply now

Attorney - Personal Injury


Consumer Law Group, LLC is among Illinois\' fastest growing law firms. We are currently seeking...

Apply now

Asbestos Paralegal


Westchester County Law Firm seeking a full-time Asbestos Paralegal with a minimum of 2-3 y...

Apply now

Insurance Defense Attorney

USA-NY-New York City

Mid-sized Insurance defense firm is seeking an attorney for their New York City office with 2-4 year...

Apply now

Most Popular


To Top