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Pilgrim's Pride closes £290M purchase of meat supplier Tulip

Pilgrim's Pride Corp. on Oct. 15 said it completed its £290 million acquisition of meat producer Tulip Ltd. from Danish Crown AmbA.

The JBS SA subsidiary entered into a purchase agreement with Danish Crown in August. The acquisition is expected to increase Pilgrim's Pride's market share for pork in the U.K.

The deal, which was funded with cash on hand, was unanimously approved by Pilgrim's board.