Pilgrim's Pride

Nation's largest chicken producer.

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Headquarters:
1770 Promontory Circle
Greeley, CO 80634
Employees: 36,700
CEO: William Lovette
Stock Symbol: PPC

Website: http://www.pilgrimspride.com

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Pilgrim's Pride Corporation is the second-largest chicken producer in the world with operations in the United States, Mexico and Puerto Rico.

Pilgrim's products are sold to foodservice, retail and frozen entrée customers. The company's primary distribution is through retailers, foodservice distributors and restaurants throughout the United States and Puerto Rico and in the Northern and Central regions of Mexico.

Pilgrim's operates 25 fresh processing plants and eight prepared foods cook plants in the U.S. Pilgrim's also operates three fresh processing plants in Mexico and one in Puerto Rico.

Pilgrim's has 26 feed mills and 30 hatcheries supporting our plants. Pilgrim's operates 13 distribution centers (one in Puerto Rico and 12 in Mexico).

The company employs approximately 38,000 people and has the capacity to process more than 36 million birds per week for a total of more than 9.5 billion pounds of live chicken annually.

The company exports chicken products to customers in approximately 105 countries, including Mexico.

Pilgrim's Pride is a part of the JBS USA family. JBS S.A., the world's largest protein company, owns 75.5% of our outstanding common stock.

In 2013, Pilgrim's reported revenues of $8.4 billion and net income of $549.7 million.

History

Starting in 1946, with $1,000 in cash and a $2,500 loan, Aubrey Pilgrim, the eldest Pilgrim brother, began what was to become his legacy to the poultry industry - a feed store. Later, Bo and Aubrey became partners in the feed store. The two had been giving away 100 baby chicks with each feed sack purchase. "We started selling baby chicks to farmers who brought the chickens back to us to sell," said Mr. Pilgrim. They sold their first chicken from a pen behind their farm supply store over 50 years ago. As the demand for the chickens grew, the first steps were taken toward creating the modern, vertically integrated chicken company, known as Pilgrim's Pride.

Over the years, Pilgrim's Pride has continually worked to make improvements in the food industry. In 1970, it took nine and a half weeks to grow a four-pound chicken. Today, they can grow a four-pound chicken in six weeks.

The company acquired Conagra's chicken division in 2003 which helped double the company's revenues.

The company filed for Chapter 11 bankruptcy in December 2008 due to large debt and declining sales of chicken.

In December 2009, Pilgrim's emerged from its reorganization as a stronger, more competitive company. Pilgrim's also achieved an incredibly rare feat for companies in Chapter 11 – it repaid all creditors in full and preserved significant value for existing shareholders. JBS USA, a unit of JBS S.A. in Brazil, acquired 64% of Pilgrim's stock in December 2009.

Updated February 23, 2014