A 海角视频 wide meat processing plant has been sold for £290million to Pilgrim's Pride Corporation.
Tulip Limited, which employs thousands of people, has two production sites in Cornwall at Bodmin and Poole, and has 10 sites elsewhere in the 海角视频.
The transaction was unanimously approved by Pilgrim’s Board of Directors,
Jayson Penn, Pilgrim’s global chief executive officer, said: "We are pleased to strengthen our European foods platform with the acquisition of Tulip Limited, which positions Pilgrim’s as a leading global prepared foods player."
“The transaction represents the logical next step in our evolution to expand our geographical footprint, enhance our value-added portfolio and reduce volatility across our business with a more stable margin profile.
"Tulip Limited’s integrated production platform, consumer ready innovation capabilities, well-invested assets, established customer relationships and strong leadership team will solidify Pilgrim’s platform for growth in the attractive 海角视频 market.”
Andrew Cracknell, CEO of Tulip Limited, said: " Pilgrim’s is acquiring an industry-leading farming operation, a strong team of dedicated people and a network of well-invested manufacturing sites.
“Our companies share a rich heritage in agriculture and food production with aligned values that put people and customers at the heart of all we do. The Tulip Limited leadership team and I look forward to working with our new colleagues to build upon the fantastic progress made within the business and realise our combined growth opportunities as we enter an exciting new phase.”
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The company is the largest pig producer in the 海角视频, with nearly £1 billion in annual sales and more than 6,000 team members.
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