Tue., December 29, 2009 6:43pm (EST)

Pilgrim's Pride Emerges From Bankruptcy
By Associated Press
Updated: 5 years ago

ATLANTA  —  
Pilgrim's Pride has reorganized and will become part of the world's largest meat producer.  (Image courtesy Pilgrim's Pride Corp.)
Pilgrim's Pride has reorganized and will become part of the world's largest meat producer. (Image courtesy Pilgrim's Pride Corp.)
A chicken producer that owns many plants in North Georgia has emerged from bankruptcy. Pilgrim’s Pride filed for bankruptcy protection more than a year ago - it was mired in debt by low chicken prices and rising feed costs.

A Brazilian beef giant bought a majority of the company making Pilgrim’s Pride part of the largest meat producer in the world.

Now that it’s reorganized it can repay its creditors in full and distribute new shares to current holders.

The reorganized company began trading Tuesday.