A PYMNTS Company

Pilgrims Pride To Pay New Antitrust Fine To Chicken Buyers

By  |  January 11, 2021
Chicken

Pilgrim’s Pride has agreed to pay US$75 million to chicken buyers to settle claims that the second-biggest American poultry producer had fixed prices, according to a US Securities and Exchange Commission filing Monday, January 11.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The company, a unit of Brazilian meat giant JBS, didn’t admit to wrongdoing as part of the broiler antitrust settlement, it stated in a US regulatory filing on Monday. The payment will be reflected in Pilgrim’s fourth-quarter results, reported Bloomberg.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Pilgrim’s in October agreed to pay a US$110.5 million fine in a plea deal with the US Department of Justice on the price-fixing allegations, which ensnared two former chief executives. Poultry buyers including Chick-fil-A and Target have sued top US chicken producers for fixing meat prices for years.

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.