Pilgrim's Pride Prices €500 Million Notes to Fund Walkers Deal

Simply Wall St··USGB·Read original
3▲1 ▼0Impact / 5
Summary · why it matters

Pilgrim's Pride Corporation and its UK subsidiary Pilgrim's Europe Finance PLC have priced an offering of €500 million in 4.750% senior notes due 2034, with proceeds earmarked for general corporate purposes including the acquisition of Walkers Deli & Sausage Company. The sale was restricted to qualified institutional and certain non-US investors. The euro-denominated issue signals Pilgrim's Pride's willingness to use its balance sheet to support expansion in higher-value prepared foods and European operations. Separately, JBS has made a non-binding proposal to acquire the remaining 17.92% of Pilgrim's Pride, a move that could eventually take PPC off public markets. The company's narrative projects $19.6 billion in revenue and $854.6 million in earnings by 2029, requiring 2.1% yearly revenue growth and roughly a $309 million earnings increase from $545.6 million today, with a fair value estimate of $33.29 implying 15% upside.

Impact on assets 5

Consumer Staples▲ · 2 stocks
Pilgrims Pride Corp
PPC
▲ PositiveCapitalrelevance

Pilgrim's Pride priced €500 million in 4.750% notes due 2034 to fund the Walkers Deli & Sausage acquisition.

JBS N.V.
JBS
± MixedCapitalrelevance

JBS made a non-binding proposal to acquire the remaining 17.92% of Pilgrim's Pride, a capital/M&A move.

Artificial Intelligence▲ · 2 stocks
Cloud & Digital Infrastructure▲ · 1 stocks

Off-coverage companies 1

Walkers Deli & Sausage CompanyPrivate± Mixed
relevance

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