Pilgrim's Pride agrees to sell two plants, one in Georgia

Pilgrim's Pride will start the procedures for selling a Georgia processing plant and one in Arkansas that are slated to shut down.

The nation's largest chicken producer will solicit bids until mid-May to sell plants in El Dorado, Ark., and Douglas, Ga., and a
sale hearing will be held within a month if one is accepted. The agreement was approved this week by a U.S. bankruptcy judge.
Farmers and government officials in Arkansas and Georgia agreed to withdraw their objections to the plant closures.

Some 160 farmers who raised chickens for the Arkansas plant will receive about $2.3 million. The Georgia farmers will receive an amount that will be determined by the mediator and the company.