Reports: Pilgrim’s Pride nears $2B sale to JBS

PITTSBURG, Texas — Media reports say beleaguered chicken producer Pilgrim’s Pride Corp. is nearing a sale to Brazilian beef producer JBS SA for $2 billion.

Pilgrim’s Pride spokesman Ray Atkinson told The Associated Press in an e-mail Wednesday the company doesn’t comment on rumor or speculation.

But the Wall Street Journal reported a deal to sell the Pittsburg, Texas-based company could be announced next week.

Pilgrim’s Pride was the nation’s largest chicken producer before it filed for bankruptcy protection late last year. It was saddled by massive debt, high feed costs and slumping demand.

The company is now restructuring to shed jobs and costs and previously said it expects to emerge from bankruptcy protection by the end of the year.