JBS-backed Pilgrim's to buy UK pork firm Walkers from Samworth

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2▲1 ▼0Impact / 5
Summary · why it matters

Pilgrim's Europe, part of the Pilgrim's Pride business majority owned by Brazilian meat giant JBS, has agreed to acquire UK firm Walkers Deli & Sausage Company from Samworth Brothers. The total consideration is around £141.5m ($191.4m) on a debt-free, cash-free basis, subject to adjustments, according to a SEC filing by Pilgrim's Pride. The deal extends an established relationship between the companies, with Pilgrim's already supplying Walkers with pork. Walkers, founded in 1824, runs four manufacturing facilities on one Leicester site with around 1,150 employees, and its portfolio includes sausages, sliced cooked meats, cooked bacon, snacking products and pâté. The transaction is expected to be finalised in September, subject to clearance from the Competition and Markets Authority and employee consultation.

Impact on assets 2

Consumer Staples▲
Pilgrims Pride Corp
PPC
▲ PositiveCapitalrelevance

Pilgrim's Pride acquires Walkers Deli & Sausage Company for £141.5m, expanding its UK operations.

Cloud & Digital Infrastructure▲

Off-coverage companies 3

Pilgrim's Europei
Private▲ PositiveCapitalrelevance

Pilgrim's Europe, the acquiring entity, expands its portfolio through the acquisition.

Walkers Deli & Sausage Companyi
Private▲ PositiveCapitalrelevance

Walkers is being acquired, which is positive for the company as it gains new ownership.

Samworth Brothersi
Private▲ PositiveCapitalrelevance

Samworth Brothers sells Walkers, receiving £141.5m, a positive financial outcome.