Cargill, Continental Grain Complete $4.5B Acquisition of Sanderson Farms
Cargill and Continental Grain have announced the long-awaited completion of the $4.5 billion acquisition of Sanderson Farms, de-listing the company from the NASDAQ.
Under the terms of the deal, Cargill and Continental have merged Sanderson Farms with Wayne Farms, a subsidiary of Continental Grain, to form a new privately held poultry business named Wayne-Sanderson Farms, which will be headquartered in Oakwood, California.
The resulting company is a best-in-class U.S. company operating chicken processing plants and prepared food plants in Alabama, Arkansas, Georgia, Louisiana, Mississippi, North Carolina, and Texas.
Moving forward, Clint Rivers, the current CEO of Wayne Farms, will serve as the CEO of the newly combined company.