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Better Farming Ontario Featured Articles

Better Farming Ontario magazine is published 11 times per year. After each edition is published, we share featured articles online.


Pilgrim's Pride fiesty when it's down

Monday, May 4, 2009

You wouldn't think that Texas-based Pilgrim's Pride, known as the world's largest chicken processor, had a lot of choice as it sheds assets in an attempt to stay afloat. Chief Executive Officer Don Jackson showed otherwise.

Pilgrim's announced on Feb. 28 that it would shut down three plants, among them one employing 1,300 in Farmerville, La. Within days, California-based Foster Farms offered $20 million for the plant, and Louisiana backed it with another $20 million. Pilgrim's Jackson refused the offer, saying that the sale would put Foster in the chicken business for a lower investment than Pilgrim's and the rest of the industry could compete with. Furthermore, the problem of too many plants and too few chickens would remain unresolved.

Days later, governor Bobby Jindal doubled Louisiana's offer, bringing the price for the plant to $60 million, a sign that perhaps he was low-balling the first time around. Later in March, Jindal announced, amid criticism, that the final price would be $80 million with the state kicking in $50 million, including $10 million in site improvements.

At press time, the state legislature had yet to approve the deal and laws had to be changed to access a development fund for the purchase. Along with the jobs, the purchase was expected to save 300 contract producers, 5,000 indirect jobs and $150 million in local and state taxes, according to Associated Press reports. BF
 

Current Issue

December 2024

Better Farming Magazine

Farms.com Breaking News

Drew Spoelstra re-elected OFA president

Friday, December 6, 2024

Drew Spoelstra has been re-elected to a second one-year term as president of the Ontario Federation of Agriculture (OFA). Spoelstra is a dairy and crop farmer from Binbrook in the southeast corner of the city of Hamilton, Ontario. He has been on the OFA board as the director,... Read this article online

New projects drive Ontario agritourism forward

Wednesday, December 4, 2024

Funding boost expands agritourism opportunities in Ontario Ontario’s agritourism industry is growing with the help of $345,000 in government funding. Agritourism Ontario (AO), rebranded from Farm Fresh Ontario, is using this support to enhance connections between families and local... Read this article online

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