Tulip sale confirmed

Pilgrim’s Pride Corporation has announced the completion of the its acquisition of Tulip Ltd from Danish Crown.

The transaction, announced in August, had been subject to competition approval. Tulip Ltd will now operate as a business unit within Pilgrim’s.

The transaction was unanimously approved by the Pilgrim’s Board of Directors and was funded with cash on hand, valuing Tulip Ltd at £290 million.

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