Wayne-Sanderson Farms merger complete
On July 22, Cargill and Continental Grain Company announced the completion of their acquisition of Sanderson Farms Inc. The companies' joint venture was first disclosed on Aug. 9, 2021.
Sanderson Farms shareholders are receiving $203.00 per each share of common stock they owned immediately prior to the completion of the transaction. Sanderson Farms’ shares will no longer be traded on the NASDAQ.
As a part of the closing of the transaction, 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, named Wayne-Sanderson Farms, will be headquartered in Oakwood, Georgia. As previously announced, Clint Rivers, currently CEO of Wayne Farms, has been appointed CEO of the combined company.
Wayne-Sanderson Farms operates chicken processing plants and prepared foods plants in Alabama, Arkansas, Georgia, Louisiana, Mississippi, North Carolina, and Texas.