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Pilgrim's Pride sold

POSTED: Thursday, September 17, 2009 - 6:38am

UPDATED: Thursday, April 8, 2010 - 2:46am

Pittsburg—A Brazilian beef producer purchased Pilgrim's Pride.

J.B.S. will buy a majority stake in the East Texas based company to help them get out of bankruptcy.

The deal is valued at 2.8 billion dollars.

The Pittsburg company was once the nation's largest chicken producer.

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