Sanderson Farms Inc. is exploring a sale, according to people familiar with the matter, as demand for chicken products rises, reports Fox Business.
Mississippi-based Sanderson Farms, which has market value of around $3.5 billion, has tapped Centerview Partners for advice on the potential sale and has attracted interest from suitors including agricultural investment firm Continental Grain Co., which owns a smaller chicken processor, the people said. The process may not result in a sale.
A deal with Continental would merge Sanderson with Georgia-based Wayne Farms LLC, a poultry producer owned by Continental, forming a company producing about 15% of the country’s chicken meat. No. 2 player Pilgrim’s Pride Corp. produces about 16% of the national total.
