United States-Nations largest poultry processors in Bankruptcy.

UNITED STATES.

BANKRUPTCY OF LARGEST POULTRY PROCESSOR.

In the last two years Pilgrims Pride increased in size and became the largest poultry processor in the United States. Then plunged into bankruptcy a few weeks ago.

They are not unique as large poultry processors collapsed, from Ireland to Brazil and Russia to Australia at the same time.

The demise of Pilgrims Pride has been blamed on the acquisition of Gold Kist poultry, in late 2006 which increased their debt burden.

The high prices of animal feed and fuel were a handicap to all poultry producers on a global basis.

The price of $1.1 billion for Gold Kist, may have looked Ok at the time, when money was being thrown around like confetti, however it looked a bad move in recent months as is was not making money and as it came with a massive debt, became a large handicap to Pilgrim.

Tyson Foods in the meantime have quietly slipped into number two position in the poultry industry, with a totally different approach to expansion seem to be set to move into the number one seat.

Tysons are also the largest beef company in the United States, with beef and pork operations all over the world.