Pilgrim's Pride Forms Committee for JBS Takeover Bid
The Greeley-based company is reviewing an unsolicited acquisition offer from its majority shareholder.
Updated on Oct. 16, 2026 in Agriculture
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Pilgrim's Pride Corp. has formed a special committee of its board of directors to evaluate an unsolicited takeover bid from JBS. JBS currently maintains an approximate 82% ownership stake in the Greeley-headquartered poultry producer.
Why it matters
The board's formation of a special committee is a formal corporate governance step to ensure the unsolicited offer is vetted independently of the majority owner. This process determines whether the bid provides sufficient value to the remaining shareholders.
JBS currently owns 82% of Pilgrim's Pride shares. This bid follows a 2022 attempt where JBS offered an initial $26.50 per share before raising the final offer to $28.50.
The players
Pilgrim's Pride Corp.
Pilgrim's Pride Corp. is a major producer and processor of poultry products headquartered in Greeley.
JBS
JBS is a multinational food processing company that currently serves as the majority shareholder for Pilgrim's Pride.
The details
The board of directors is now tasked with reviewing the proposal to determine if it aligns with the interests of the company and its minority stakeholders. This is the second time JBS has attempted to purchase all outstanding shares of the Greeley-based firm.
Timeline
JBS made an unsuccessful takeover attempt in 2022.
Market Landscape
This move represents a continued consolidation effort within the global meat processing sector as JBS seeks full control of its subsidiary. The board's decision reflects the broader industry trend of tightening corporate ownership structures in agricultural production.
The potential acquisition may eventually result in a change of ownership status for the publicly traded shares held by investors. Customers and stakeholders in Greeley may see shifts in operational management if the company moves to private control.
The takeaway
Shareholders should monitor future regulatory filings to see if the board recommends accepting or rejecting the new offer. The outcome will depend on whether JBS raises its valuation above the 2022 final offer of $28.50 per share.
Further reading
Find more industry developments at the Agriculture section.
Source note: This article includes information reported by 1310 KFKA.
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