Pilgrim's Pride Corporation · NASDAQ:PPC
Pilgrim's Pride — Merger or Acquisition (June 2021)
14 slides from Pilgrim's Pride's merger presentation, Jun 21, 2021
Slide 1: Pilgrim's To Acquire Kerry Consumer Foods' Meats and Meals Business
Pilgrim’s To Acquire Kerry Consumer Foods’ Meats and Meals Business June 17, 2021 Pilgrim’s Pride Corporation (NASDAQ: PPC)
Slide 2: Cautionary Notes and Forward-Looking Statements
PRELIMINARY DRAFT Cautionary Notes and Forward-Looking Statements Forward Looking Statements Statements contained in this press release that state the intentions, plans, hopes, beliefs, anticipations, expectations or predictions of the future of Pilgrim’s Pride Corporation (referred to herein as the
Slide 3: Presenters
PRELIMINARY DRAFT Presenters Matt Galvanoni Chief Financial Officer, Pilgrim’s Pride Fabio Sandri Chief Executive Officer, Pilgrim’s Pride 2
Slide 4: Transaction Terms
PRELIMINARY DRAFT Transaction Terms Values Kerry Consumer Foods’ Meats and Meals business at £680 Million (~$952 million based on a 1.40 USD/GBP exchange rate). The final purchase price is subject to routine closing adjustments(1) Valuation Implied standalone EBITDA multiple of 8.5x(2) Immedia
Slide 5: Business: A Leading Meats and Prepared Foods Platform
PRELIMINARY DRAFT Kerry Consumer Foods’ Meats and Meals Business: A Leading Meats and Prepared Foods Platform 4 A leading UK and Republic of Ireland (ROI) prepared food company providing prepared, value-add meats and complementary convenience meal products with a portfolio of leading brands High
Slide 6: Value Proposition for Pilgrim's Shareholders
PRELIMINARY DRAFT Value Proposition for Pilgrim’s Shareholders Strong Value-Add Portfolio Increased focus on value-add proposition with a portfolio of market-leading brands and strong household penetration in the UK and Republic of Ireland Further exposure to the higher growth segments including
Slide 7: Enhances Diversification and Capabilities of the Pilgrim's UK Platform
PRELIMINARY DRAFT UK 81% ROI 4% International 15% Chart Title Primary 43% Value add / convenience 57% Chart Title Enhances Diversification and Capabilities of the Pilgrim’s UK Platform The acquisition is expected to further Pilgrim’s strategy of expanding into new, attractive categories including pl
Slide 8: Enhances Diversification and Capabilities of Pilgrim's Total Platform
PRELIMINARY DRAFT UK and Europe 35% Mexico 10% US 55% Chart Title Primary 74% Value add / convenience 26% Chart Title Enhances Diversification and Capabilities of Pilgrim’s Total Platform ___________________________ 1. Aggregated Sales calculated based on Pilgrim’s global operations combined with Ke
Slide 9: Delivers Exceptional and Highly Integrated Capabilities
PRELIMINARY DRAFT Delivers Exceptional and Highly Integrated Capabilities ~£725 million in sales1 6 convenience meals facilities 3 meats facilities 2 business locations (Oakhouse & Rollover2) Over 4,500 team members Fully integrated, well invested meats and meals platform Traceability,
Slide 10: Adds Attractive Portfolio with Iconic Brands, Value-Add Products and Channel Mix
PRELIMINARY DRAFT Chart Title Adds Attractive Portfolio with Iconic Brands, Value-Add Products and Channel Mix Kerry Consumer Foods’ Meats and Meals: Stable margin business providing value-added products to consumers primarily through retail customers 9 Raw Cooked Meat Free Meats (46% of Revenues1)
Slide 11: Innovative Product Portfolio
PRELIMINARY DRAFT Innovative Product Portfolio Kerry Consumer Foods’ Meats and Meals: Innovative business that benefits their customer base 10 Raw Meats Meat Free Food To Go Cooked Meats Portfolio of iconic brands across meats, meat free and DTC Meat Portfolio Convenience Meals Portfolio Frozen Read
Slide 12: Squarely Aligns with Pilgrim's Strategic Priorities
PRELIMINARY DRAFT Kerry Consumer Foods’ Meats and Meals Squarely Aligns with Pilgrim’s Strategic Priorities Combination designed to create a stronger, more diverse and safer global leader Enhances existing relationships with key customers primarily across retail channels in Europe Commitment to inn
Slide 13: Q&A
PRELIMINARY DRAFT Q&A 12
Slide 14: All about great taste.
All about great taste. 13