Under the terms of the plan, all creditors holding allowed claims will be paid in full, either in cash or by issuance of a new note. All existing Pilgrim’s Pride common stock will be cancelled and existing stockholders will receive the same number of new common stock shares representing 36% of the reorganized Pilgrim’s Pride in aggregate.

“We recognized an opportunity to improve alignment with the large number of variables present in the flour milling industry. ConAgra Mills will customize and engage SignalDemand’s systems to coordinate our raw material inputs, production capacity and demand forecast to improve sales execution with our customers. This new system will enable us to develop more winning contracting and delivery scenarios for our customers,” says Paul Maass, president of ConAgra Mills.