JBS launches $1.2 billion bid to take full control of Pilgrim’s Pride in stock swap

Global meatpacking giant JBS NV has launched a $1.2 billion stock deal to acquire the remaining 18% of Pilgrim’s Pride Corp. it does not already own, sending shares of the U.S. chicken producer up 6.7% in premarket trading. JBS, which currently holds an 82% stake in Pilgrim’s Pride, is offering 2.086 of its Class A common shares for each Pilgrim’s Pride share under the proposed all-stock transaction. The move aims to simplify JBS’s corporate structure, improve capital allocation, and grant Pilgrim’s Pride shareholders access to JBS stock and its broader investor base. The proposal must still be reviewed and approved by a Pilgrim’s Pride board committee. JBS emphasized that the deal would enhance operational efficiency and cost savings across the group. The announcement follows a previous failed attempt by JBS to take full control of Pilgrim’s Pride four years ago, when the company was not yet listed on a U.S. exchange. JBS began trading in New York last year, enabling the current stock-swap structure. The deal is part of JBS’s broader strategy to expand its global footprint, including recent leadership changes and international acquisitions in Asia and the Middle East. The push comes as consumer demand for chicken continues to rise, though oversupply has recently pressured pricing and impacted Pilgrim’s Pride’s operating income, which dropped 75% in the first half of the year compared to the prior year. The transaction values Pilgrim’s Pride at approximately $1.2 billion based on JBS’s closing share price on August 18, 2026, and the number of Pilgrim’s Pride shares outstanding.