© 2014 The Texas Lawbook.
By Natalie Posgate – (August 13) – A group of Dallas attorneys from Baker & McKenzie are advising chicken producer giant Pilgrim’s Pride Corporation and its Brazilian parent company, JBS S.A., in their acquisition of all of Tyson Foods, Inc.’s poultry businesses in Mexico and Brazil.
Though currently headquartered in Colorado, Pilgrim’s Pride was founded in Pittsburg, Texas and still has significant operations in the state.
The purchase price composes of $400 million for the Mexican transaction, and $175 million for the Brazilian transaction. Pilgrim’s Pride is acquiring the Mexican business, while JBS is acquiring the Brazilian business.
M&A partner Crews Lott led the Baker & McKenzie team, which also included partners Alan Harvey, Todd Schroeder and Kevin Maher; associates Brook Mestre and Louann Fang; and attorneys from the firm’s Washington, D. C. and Monterrey, Mexico offices.
Brazilian law firm Barbosa Müssnich & Aragão serves as co-counsel with Baker & McKenzie for the deal.
Baker & McKenzie has been a long-term legal advisor for Pilgrim’s Pride. In September 2009, the firm represented Pilgrim’s Pride when JBS acquired 64 percent of the originally Texas-based company through its U.S. subsidiary for $800 million. Today, JBS owns 75 percent of Pilgrim’s Pride.
Baker & McKenzie also handled a rights offering for the Pilgrim’s Pride in 2012.
Tyson’s legal counsel is New York firms Davis Polk & Wardwell and White & Case, as well as Brazilian firm, Pinheiro Neto Avodgados.
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