M&As this week: Pilgrim’s Pride, McCormick, Olymel

US-based chicken processing company Pilgrim's Pride is set to acquire GNP Company, a chicken products supplier.

Involving a consideration of $350m, the acquisition is expected to be completed in the first quarter of next year, as well as help Pilgrim’s Pride to enhance its business and offer differentiated products.

Spice and seasonings manufacturer McCormick has reached an agreement to acquire the entire stake in Italian flavour manufacturer Enrico Giotti for €120m ($127m) in cash consideration.

Expected to be completed by the end of the year, the acquisition will help McCormick to expand its industrial segment business in the Europe, Middle East and Africa.

Canadian meat distributor Olymel has completed the acquisition of hog producer Pinnacle Farms.

Through the acquisition, Olymel will be able to supply 100,000 hogs a year to its processing plant in Red Deer, Alberta, enabling it to expand into new markets.