Press Releases October 9, 2026 08:30 AM

Pilgrim’s Pride Forms Special Committee and Selects Advisors to Review JBS N.V. Proposal

Pilgrim's Pride Establishes Special Committee to Review JBS N.V.'s Acquisition Proposal

By Ajmal Hussain
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PPC

Pilgrim's Pride Corporation's board has formed a special committee of independent directors to evaluate the unsolicited acquisition proposal from JBS N.V., selecting legal and financial advisors to assist in the review. The board will only approve a transaction upon the committee's favorable recommendation and shareholder approval. There is no guarantee the deal will be completed.

Pilgrim’s Pride Forms Special Committee and Selects Advisors to Review JBS N.V. Proposal
PPC
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Key Points

  • Pilgrim's Pride received an unsolicited offer from JBS N.V. to acquire all outstanding shares it does not own.
  • A special committee has been formed to independently evaluate the proposal with help from external legal and financial advisors.
  • Approval of any acquisition requires both the committee's recommendation and shareholder consent from non-JBS holders.

GREELEY, Colo., Oct. 09, 2026 (GLOBE NEWSWIRE) -- The board of directors of Pilgrim’s Pride Corporation (NASDAQ: PPC) (“PPC”) has formed a special committee of independent and disinterested directors to review and evaluate the previously announced unsolicited proposal received on August 18, 2026, from JBS N.V. (NYSE: JBS, B3:JBSS32) (“JBS”) to acquire all of the outstanding shares of common stock of PPC that JBS does not currently own.

The special committee has selected Ropes & Gray LLP as legal counsel and Moelis & Company LLC as financial advisor to assist the special committee in its review and evaluation of the JBS proposal.

The PPC board of directors will not approve the transaction proposed by JBS without the favorable recommendation of the special committee, and any such transaction is expected to be conditioned on the affirmative vote of a majority of the votes cast by the holders of PPC shares not held by JBS or its affiliates.

There can be no assurance that a definitive agreement relating to JBS’s proposal will be entered into by PPC, or that any transaction will be consummated.

About Pilgrim’s Pride

PPC employs approximately 63,000 people and operates protein processing plants and prepared-foods facilities in 14 states, Puerto Rico, Mexico, the U.K., the Republic of Ireland and continental Europe. PPC’s primary distribution is through retailers and foodservice distributors. For more information, please visit www.pilgrims.com.

Forward-Looking Statements

This press release contains, and management may make, certain “forward-looking statements” as defined under the Private Securities Litigation Reform Act of 1995. Statements of our intentions, beliefs, expectations or predictions for the future, denoted by the words “anticipate,” “believe,” “estimate,” “expect,” “plan,” “project,” “imply,” “intend,” “should,” “foresee” and similar expressions, are forward-looking statements that reflect our current views about future events and are subject to risks and uncertainties. Such risks and uncertainties include the possibilities that a definitive agreement relating to JBS’s proposal will not be entered into by PPC or that no transaction will be consummated, as well as those risk factors described in PPC’s Annual Report on Form 10-K for the fiscal year ended December 28, 2025, filed with the Securities and Exchange Commission on February 12, 2026. Actual results could differ materially from those expressed in, or implied or projected by these forward-looking statements as a result of these risks and uncertainties, many of which are difficult to predict and beyond our control. PPC’s forward-looking statements speak only as of the date of this press release or as of the date they are made, and PPC undertakes no obligation to update its forward-looking statements.

Contact:

Andrew Rojeski
Head of Strategy, Investor Relations, & Sustainability
[email protected]
www.pilgrims.com


Risks

  • No assurance that Pilgrim's Pride will enter into a definitive acquisition agreement with JBS.
  • Potential for the transaction not to be consummated due to lack of agreement or shareholder vote.
  • Uncertainties around future outcomes may affect Pilgrim's Pride's stock performance until clarity emerges.

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