Pilgrim’s Pride Strikes Plea Deal Over U.S. Chicken Price-Fixing Charges

Reuters Meat & Poultry October 14, 2020

U.S. poultry company Pilgrim’s Pride Corp PPC.O said on Wednesday it will pay a $110.5 million fine after striking a plea deal with the Justice Department over price-fixing charges on chicken products.

The guilty plea makes Pilgrim’s Pride, mostly owned by Brazilian meatpacker JBS SA JBSS3.SA, the first U.S. chicken company to reach an agreement with the government over allegations that industry executives conspired to increase chicken prices from 2012 through 2019.

Pilgrim’s Pride agreed to plead guilty to one count of conspiracy to limit competition in chicken product sales, according to a Securities and Exchange Commission (SEC) filing. A company statement said the agreement covered three chicken contracts with one U.S. customer.

To read the rest of the story, please go to: Reuters

Related Articles

Meat & Poultry

Do Good Foods Receives Environment + Energy’s Top Product of the Year Award

Do Good Foods, Inc. Meat & Poultry July 27, 2023

Do Good Foods™, the country’s preeminent climate-forward food company, announced that its flagship product, Do Good Chicken®, has won the prestigious Top Product of the Year Award in the 2023 Environment + Energy Leader Awards program. This accolade recognizes Do Good Foods as an exemplary leader in the sustainable food space and its positive impact in energy or environmental management. …

Meat & Poultry

Cooks Venture Announces $50M Secured From PIUS

Cooks Venture Meat & Poultry February 18, 2022

Cooks Venture, an independent poultry genetics company, emerging into a market where consumers are demanding better quality meat, announced today the securing of $50 million in funding from insured technology financing pioneer, PIUS. Cooks Venture is also the largest pasture-raised poultry company in America committed to regenerative agricultural practices and the only poultry company integrated into their own breeding line. …