Pilgrim's Pride sees major benefits from GNP add-on

|About: Pilgrim's Pride Corporation (PPC)|By:, SA News Editor

Pilgrim's Pride (PPC +1.8%) says the acquisition of GNP Company is expected to be immediately accretive to EPS and provide annual synergies of $20M.

The company also sees capturing an estimated present value of ~ $28M in tax savings and a post synergies EBITDA multiple of 3.9X.

PPC on the deal: "The acquisition complements Pilgrim’s existing business both in geography and differentiated branded products, presenting an opportunity to immediately strengthen the company’s position in fast growing and higher margin branded retail product categories, such as natural and organic."

Previously: Pilgrim’s Pride acquires chicken producer GNP Company (Nov. 29)