Pilgrim's Pride Corporation · NASDAQ:PPC
Pilgrim's Pride — Merger or Acquisition (September 2017)
16 slides from Pilgrim's Pride's merger presentation, Sep 11, 2017
Slide 1: Pilgrim's Acquires Moy Park
Pilgrim’s Acquires Moy Park September 11, 2017 Pilgrim’s Pride Corporation (NASDAQ: PPC) Exhibit 99.2
Slide 2: Cautionary Notes and Forward-Looking Statements
Cautionary Notes and Forward-Looking Statements Statements contained in this presentation that share our intentions, beliefs, expectations or predictions for the future, denoted by the words “anticipate,” “believe,” “estimate,” “should,” “expect,” “project,” “plan,” “imply,” “intend,” “foresee” and
Slide 3: Presenters
Presenters Fabio Sandri Chief Financial Officer, Pilgrim’s Pride Janet McCollum Chief Executive Officer, Moy Park Bill Lovette Chief Executive Officer, Pilgrim’s Pride 2
Slide 4: Pilgrim's & Moy Park Together: Strategic and Financial Rationale
Pilgrim’s & Moy Park Together: Strategic and Financial Rationale ___________________________ Assumes Q2 2017 June LTM EBITDA of $135mm (£103mm) in USGAAP standards, which includes $38mm (£29mm) of biological assets expense. IFRS accounting standards exclude biological assets expense; IFRS LTM EBITDA
Slide 5: Moy Park – A Leading Prepared Foods Platform
Moy Park – A Leading Prepared Foods Platform Top 10 UK food company providing fresh, prepared, value-added and locally farmed poultry and complementary convenience food products for more than 70 years Highly regarded and innovative manufacturer of convenience food products Prepared foods represent a
Slide 6: Creates Significant Value for Pilgrim's Shareholders
Creates Significant Value for Pilgrim’s Shareholders Increases Diversification Provides further geographic diversification with exposure to the European market Platform for growth in Europe and its export destinations Improves Earnings Stability Attractive structural market dynamics in European fres
Slide 7: Enhances Diversification and Capabilities
Enhances Diversification and Capabilities Acquisition furthers Pilgrim’s strategy of expanding into new geographies and increases value add capabilities 2017 LTM PF Sales $10,384mm(2) ___________________________ Note: GBP converted to USD at the constant currency rate of 1.3. Percentages represent p
Slide 8: Delivers Best-in-Class and Fully Integrated Market-Leading Capabilities
Delivers Best-in-Class and Fully Integrated Market-Leading Capabilities Fresh Processing UK Added-Value Processing EU Added-Value Processing Grandparent Breeding Grounds Legend 9 added-value processing facilities 4 fresh processing facilities Fully integrated, well invested, comprehensive Fresh Poul
Slide 9: Adds Attractive Portfolio with a Broad Geographic, Product and Customer Mix
Adds Attractive Portfolio with a Broad Geographic, Product and Customer Mix UK and Ireland (75% of Revenues) Continental Europe (25% of Revenues) Primary Fresh Ready-to-Eat Coated Convenience and Meat Free Products Channel Mix Customers Brands ___________________________ Note: Percentage of 2016 rev
Slide 10: Innovative Product Portfolio
Innovative Product Portfolio Market leader in high value-added categories Consumer insights capabilities support innovation and food development, helping deliver a large variety of new products FRESH CHICKEN BREADED CHICKEN SNACKING READY TO COOK ROAST IN THE BAG BBQ & ROAST STARTER MAIN COURSE GLUT
Slide 11: Provides Significant Synergy and Growth Opportunities
Provides Significant Synergy and Growth Opportunities Pilgrim’s has a history of successfully identifying and rapidly realizing synergy opportunities Synergies realized in Mexico post-integration exceeded original target and the acquired asset is performing at the same level as the legacy Synergies
Slide 12: Moy Park Squarely Aligns with Pilgrim's Strategic Priorities
Moy Park Squarely Aligns with Pilgrim’s Strategic Priorities Combination creates a stronger, more diverse and safer global leader Enhances existing relationships and opens new relationships with key customers across retail and foodservice channels in Europe P Commitment to innovation, sustainability
Slide 13: Creates Significant Value for Pilgrim's Shareholders
Creates Significant Value for Pilgrim’s Shareholders Increases Diversification Provides further geographic diversification with exposure to the European market Platform for growth in Europe and its export destinations Improves Earnings Stability Attractive structural market dynamics in European fres
Slide 14: All about great taste.
All about great taste.
Slide 15: EBITDA Reconciliation
EBITDA Reconciliation ___________________________ Note: GBP converted to USD at the constant currency rate of 1.3. 14
Slide 16: Pilgrim's
\) pilgrims All about great taste.
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