Pilgrim’s Pride looking to acquire Hillshire Brands

Chicago-based Hillshire Brands Co., a food producer founded in New London, Wis., that still has operations there, has received an all-cash offer-to-purchase from Colorado-based Pilgrim’s Pride, maker of Pilgrim’s brand chicken products. Hillshire sells deli meats, and its brands include Sara Lee, Jimmy Dean, Ball Park, Hillshire Farm, Chef Pierre, and State Fair. Hillshire recently announced a plan to purchase Pinnacle Foods, Inc. for $4.2 billion. The Pilgrim’s Pride deal, if successful, would reportedly be worth $6.4 billion and would nullify the Hillshire-Pinnacle merger.