Cargill and Continental Grain Co. announced the completion of the acquisition of Sanderson Farms Inc. that was announced on August 9, 2021.
Shareholders of Sanderson Farms are receiving $203 per share of common stock they owned immediately prior to the completion of the transaction. Beginning July 22, Sanderson Farms’ shares were no longer trading on the NASDAQ .
Cargill and Continental Grain have combined Sanderson Farms with Wayne Farms, a subsidiary of Continental Grain, forming a new privately held poultry business. The new business, Wayne-Sanderson Farms, will be headquartered in Oakwood, GA. Clint Rivers, currently CEO of Wayne Farms, has been appointed CEO of the combined company.
"I am honored to lead the new Wayne-Sanderson Farms, which brings together a talented team with complementary operations and cultures and a strong commitment to employees, farmers, and the communities where we operate," said Rivers. "The new company is ideally positioned to continue to serve customers and consumers with high-quality and affordable products.”
Wayne-Sanderson Farms is a US poultry company with a high-quality asset base, a strong operating culture, and well regarded management team and workforce. Operating chicken processing plants and prepared foods plants in AL, AR, GA, LA, MS, NC, and TX, Wayne-Sanderson Farms will continue to invest in its stakeholders, workforce, and in employee safety.
"It has been an incredible privilege to lead the Sanderson Farms team over the last thirty-three years and to continue my family’s legacy by helping to nourish families across the country," said Joe F. Sanderson, Jr. "I am proud of all we have achieved together, and I am confident that the fairness, honesty, and integrity that has been synonymous with the Sanderson Farms name will carry on with Wayne-Sanderson Farms.”