Poultry producer Pilgrim’s Pride confirmed Tuesday it countered the offer by Tyson Foods Inc. in the fight over the acquisition of Hillshire brands, increasing its original proposal by $1.3 billion.
Poultry producer Pilgrim’s Pride is offering to purchase Hillshire Brands in an all-cash transaction valued at $6.4 billion on the condition that the brand forfeits its plans to acquire Pinnacle Foods.
Snacking company Snyder’s-Lance announced the sale of Private Brands to Shearer’s Foods, LLC last week for $430 million in order to focus attention on growing branded products.