Pilgrim’s Pride to pay $75 million to chicken buyers in antitrust case

Published 11 Jan,2021 via Bloomberg Markets - Pilgrim’s Pride Corp. has agreed to pay $75 million to chicken buyers to settle claims that the second-biggest American poultry producer had fixed prices, according to a U.S. Securities and Exchange Commission filing Monday.

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

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

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