Yes, Cargill, in a joint venture with Continental Grain Company, acquired Sanderson Farms Inc.
The Acquisition of Sanderson Farms
On July 22, 2022, a significant transaction in the poultry industry was completed when Cargill and Continental Grain Company announced the finalization of their joint acquisition of Sanderson Farms Inc. This strategic move, which had been initially disclosed on August 9, 2021, led to the formation of a new, major player in the U.S. food market.
The acquisition brought together the strengths of the involved parties, with Sanderson Farms, one of the leading poultry producers, being integrated into the operations of the joint venture. This collaboration has reshaped the landscape of poultry production and distribution.
Key Details of the Acquisition
The process involved multiple stages, from initial disclosure to the ultimate completion, marking a notable event for all companies involved.
- Acquiring Parties:
- Cargill
- Continental Grain Company
- Acquired Company:
- Sanderson Farms Inc.
- Joint Venture Disclosure Date: August 9, 2021
- Acquisition Completion Date: July 22, 2022
- Resulting Entity: The merger led to the creation of Wayne-Sanderson Farms, combining the operations of Sanderson Farms with Wayne Farms, which was previously owned by Continental Grain Company.
This collaborative purchase highlights the growing trend of consolidation within the food and agriculture sectors. The new entity, Wayne-Sanderson Farms, is now a prominent force, serving a wide array of customers across the nation.
For further information regarding the merger, you can refer to relevant industry news, such as updates from Georgia Farm Bureau.
