Sale of Spalding factory is completed
An American company has completed its acquisition of a UK pork producer.
Tulip, which has a site in Spalding, has been bought by Pilgrim's Pride Corporation in a £290 million deal with Danish Crown.
Pilgrim's, which operates chicken processing plants and prepared-foods facilities in 14 states, Puerto Rico, Mexico, the UK and Europe, has announced the deal was completed yesterday (Tuesday, October 15).
Tulip, which employs 6,000 people in the UK, will operate as a business unit within Pilgrim.
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Pilgrim's Global Chief Executive Officer Jaysen Penn said in August: "We are pleased to strengthen our European foods platform with the acquisition of Tulip Limited, which positions Pilgrim’s as a leading global prepared foods player."
Under terms of the agreement, Danish Crown will continue to supply Danish pork to Tulip Limited under a long-term supply agreement.