JBS Proposes to Acquire Remaining Stake in Pilgrim's Pride

By Kelly Cloonan

JBS submitted a proposal to Pilgrim's Pride to acquire the rest of the poultry producer's shares it does not already own.

The world's largest meatpacker, which currently owns about 82% of Pilgrim's common stock, said Tuesday the proposal would give Pilgrim's Pride shareholders exposure to a bigger and more diversified global business.

Pilgrim's Pride is the second-largest U.S. chicken company and focuses on poultry products, whereas JBS has a sprawling portfolio encompassing a wider range of proteins. The company has beef operations in Brazil and Australia, and is also the second-largest pork processor in the U.S. It processes other proteins as well such as lamb and salmon.

If the deal closes shares of Pilgrim's common stock would be deregistered and no longer quoted on the Nasdaq.

JBS proposed a fixed exchange ratio of about 2.1 shares of its Class A common stock for each share of Pilgrim's Pride's common stock, based on Tuesday's closing prices $13.66 and $28.49, respectively.

The proposal may also result in savings as it eliminates Pilgrim's standalone public company costs, potentially benefiting Pilgrim's shareholders, JBS said.

The proposed deal is subject to the approval of a special committee of independent directors expected to be appointed by Pilgrim's board, JBS said. JBS also expects the proposal would require the approval of a majority of the votes cast by holders Pilgrim's common stock that it does not already own.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

Corrections & Amplifications

This article was corrected on Aug. 20, 2026 to clarify that JBS said a takeover of Pilgrim's Pride would give Pilgrim's Pride shareholders exposure to a bigger and more diversified global business.

(END) Dow Jones Newswires

August 18, 2026 19:20 ET (23:20 GMT)