Cargill, Continental Grain close $4.5bn acquisition of Sanderson Farms
Cargill and Continental Grain Company have wrapped up the previously announced joint $4.53 billion acquisition of Sanderson Farms, an American poultry company that was listed on Nasdaq.
The all-cash deal of $203 per share was announced in August 2021.
As previously announced by the parties, Sanderson Farms has been merged with Continental Grain’s subsidiary Wayne Farms to create a new privately-held poultry company.
The new poultry business will operate as Wayne-Sanderson Farms with headquarters in Oakwood, Georgia. Clint Rivers, the incumbent CEO of Wayne Farms will be the CEO of Wayne-Sanderson Farms.
Cargill, Continental Grain close $4.5bn acquisition of Sanderson Farms. Logo courtesy of Cargill, Incorporated.
Clint Rivers said: “I am honored to lead the new Wayne-Sanderson Farms, which brings together a talented team with complementary operations and cultures and a strong commitment to employees, farmers and the communities where we operate.
“The new company is ideally positioned to continue to serve customers and consumers with high-quality and affordable products.”
Wayne-Sanderson Farms has operating chicken processing plants and prepared foods plants in Alabama, Georgia, Arkansas, Mississippi, Louisiana, Texas, and North Carolina.
Joe F. Sanderson, Jr. — Sanderson Farms Chairman and CEO said: “It has been an incredible privilege to lead the Sanderson Farms team over the last thirty-three years and to continue my family’s legacy by helping to nourish families across the country.
“I am proud of all we have achieved together, and I am confident that the fairness, honesty and integrity that has been synonymous with the Sanderson Farms name will carry on with Wayne-Sanderson Farms.”