Pilgrim's Pride announced late Tuesday that they have entered into a plea agreement with the Department of Justice Antitrust Division relative to the investigation of U.S. poultry companies regarding the sale of broiler chicken products.
Pilgrim's Pride agreed to a fine of $110.5 million for “restraint of competition that affected three contracts for the sale of chicken products to one customer in the United States,” the firm said in a release announcing the agreement. Pilgrim's Pride would not face any further charges in the matter provided it complies with the terms and provisions of the agreement.
“Pilgrim's is committed to fair and honest competition in compliance with U.S. antitrust laws,” said Fabio Sandri, Pilgrim's CEO. “We are encouraged that today's agreement concludes the Antitrust Division's investigation into Pilgrim's, providing certainty regarding this matter to our team members, suppliers, customers and shareholders.”