With chicken prices soaring, Sanderson Farms sold for $4.5B

With the price of chicken soaring, third-largest poultry producer in the U.S. is being bought for $4.53 billion

With the price of chicken soaring, the third-largest poultry producer in the U.S. is being bought for $4.53 billion. Cargill and Continental Grain have formed a joint venture to acquire Sanderson Farms, paying $203 per share in cash for a company that last year processed more than 4.8 billion pounds of meat. The companies plan to combine Sanderson Farms with Wayne Farms, a Continental Grain subsidiary, to form a new, privately held poultry business. Operations will include poultry processing plants and prepared foods plants across Alabama, Arkansas, Georgia, Louisiana, Mississippi, North Carolina, and Texas. Wayne Farms has more than 9,000 employees. It makes products under brand names including Wayne Farms fresh and prepared chicken; Platinum Harvest premium fresh chicken; Chef's Craft gourmet chicken; Naked Truth premium chicken and Ladybirdy premium chicken.