Wisconsin’s Own Patrick Cudahy® Presents BACONFEST MILWAUKEE 2018

MILWAUKEE, Feb. 21, 2018 (GLOBE NEWSWIRE) — Patrick Cudahy®, The Home of Sweet Apple-Wood Smoked Flavor™, is bringing the best in bacon back for the seventh straight year, returning as the presenting sponsor of 102.9 The HOG’s BACONFEST MILWAUKEE 2018, the annual mecca for bacon lovers in the Midwest.

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At the celebration, Patrick Cudahy will be sampling its delicious Original Sweet Apple-Wood Smoked Bacon, which is still smoked the old-fashioned way in Cudahy, Wisconsin. All-Natural Sweet Apple-Wood Smoked Bacon, Double Smoked Bacon, and Black Forest Bacon are also on the menu. The Patrick Cudahy booth will give festival attendees a chance to win brand and Green Bay Packers items on the prize wheel and snap photos in the Patrick Cudahy photo booth to share with friends and family on the BACONFEST MILWAUKEE site. Everyone who stops by the Patrick Cudahy station will also be treated to assorted swag, coupons, and a chance to win free bacon for a year.

“Our fans have come to expect the unparalleled taste and experience of Patrick Cudahy at BACONFEST, and after seven years we’re still happy to deliver,” said Bud Matthews, senior vice president of Patrick Cudahy for Smithfield Foods. “As members of the community for more than 130 years, we are proud to celebrate traditions like BACONFEST MILWAUKEE with our fans because that’s what Patrick Cudahy is all about: family, friends, fun, and most importantly – bacon!”

This year’s celebration of all things bacon is happening Sunday, February 25, at the Event Center inside the Potawatomi Hotel & Casino from 11:30 a.m. to 4 p.m. For more information on BACONFEST MILWAUKEE 2018 or to purchase tickets, go to www.baconfestmke.com.

For more information about Patrick Cudahy, please visit www.patrickcudahy.com or www.Facebook.com/PatrickCudahyMeats.

Patrick Cudahy is a brand of Smithfield Foods.

About Patrick Cudahy
For 130 years, families throughout the Midwest have known the name Patrick Cudahy as one they can count on for quality, value and for the unmistakable flavor of Sweet Apple Wood. Our product line includes fully cooked and traditional bacon, bacon pieces and toppings, dry sausage, pepperoni, ham, deli, and sliced meats.

About Smithfield Foods
Smithfield Foods is a $15 billion global food company and the world’s largest pork processor and hog producer. In the United States, the company is also the leader in numerous packaged meats categories with popular brands including Smithfield, Eckrich, Nathan’s Famous, Farmland, Armour, Farmer John®, Kretschmar, John Morrell, Cook’s, Gwaltney, Carando, Margherita, Curly’s, Healthy Ones, Morliny, Krakusand Berlinki. Smithfield Foods is committed to providing good food in a responsible way and maintains robust animal care, community involvement, employee safety, environmental and food safety and quality programs. For more information, visit www.smithfieldfoods.com.

Media Contact:

Smithfield Foods
Jeffrey M. Jones
(757) 357-8501
jmjones2@smithfield.com

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Hershey Reaffirms Outlook For 2018

HERSHEY, Pa., Feb. 21, 2018 (GLOBE NEWSWIRE) — In a presentation today at the 2018 Consumer Analyst Group of New York (CAGNY) conference, Michele G. Buck, President and Chief Executive Officer, The Hershey Company (NYSE:HSY) and Patricia A. Little, Senior Vice President and Chief Financial Officer, reviewed the progress the company has made towards its vision of becoming an innovative snacking powerhouse.  They discussed initiatives underway to support the company’s growth agenda and financial targets, including its Margin for Growth program outlined last March.

During the presentation, management reaffirmed the company’s full-year 2018 financial expectations for net sales and earnings per share-diluted growth previously provided in its February 1, 2018, earnings release. The company’s CAGNY presentation was accompanied by slides that can be accessed at the corporate website (http://www.thehersheycompany.com). Please go to the Investor Relations section of the website for further information.

Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Many of these forward-looking statements can be identified by the use of words such as “intend,” “believe,” “expect,” “anticipate,” “should,” “planned,” “projected,” “estimated,” and “potential,” among others. These statements are made based upon current expectations that are subject to risk and uncertainty. Because actual results may differ materially from those contained in the forward-looking statements, you should not place undue reliance on the forward-looking statements when deciding whether to buy, sell or hold the company’s securities. Factors that could cause results to differ materially include, but are not limited to: issues or concerns related to the quality and safety of our products, ingredients or packaging; changes in raw material and other costs, along with the availability of adequate supplies of raw materials; selling price increases, including volume declines associated with pricing elasticity; market demand for our new and existing products; increased marketplace competition; disruption to our manufacturing operations or supply chain; failure to successfully execute and integrate acquisitions, divestitures and joint ventures; changes in governmental laws and regulations, including taxes; political, economic, and/or financial market conditions; risks and uncertainties related to our international operations; disruptions, failures or security breaches of our information technology infrastructure; our ability to hire, engage and retain a talented global workforce; our ability to realize expected cost savings and operating efficiencies associated with strategic initiatives or restructuring programs; complications with the design or implementation of our new enterprise resource planning system; and such other matters as discussed in our Annual Report on Form 10-K for the year ended December 31, 2016 and our Quarterly Report on Form 10-Q for the quarter ended July 2, 2017. All information in this press release is as of February 21, 2018. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company’s expectations.

FINANCIAL CONTACT:
Mark Pogharian
717-534-7556

MEDIA CONTACT:
Jennifer Sniderman
717-534-6275

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Pilgrim’s Pride Upsizes and Prices its Senior Unsecured Notes Offering

GREELEY, Colo., Feb. 21, 2018 (GLOBE NEWSWIRE) — Pilgrim’s Pride Corporation (NASDAQ:PPC) (the “Company”) today announced the pricing of two series of senior unsecured notes for an aggregate principal amount of $500.0 million.  These notes consist of $250.0 million aggregate principal amount of additional 5.750% senior unsecured notes due 2025 (the “Additional 2025 Notes”), which will be issued at a price of 99.25% of the aggregate principal amount reflecting a yield to maturity of 5.881% and $250.0 million aggregate principal amount of additional 5.875% senior unsecured notes due 2027, which will be issued at a price of 97.25% of the aggregate principal amount reflecting a yield to maturity of 6.260% (the “Additional 2027 Notes” and, together with the Additional 2025 Notes, the “Notes”).  The aggregate principal amount of the Notes offered was upsized from US$400.0 million. The sale of the Notes is expected to close on March 7, 2018, subject to customary closing conditions.

The Company intends to use the aggregate net proceeds from the offering of the Notes in connection with an offer to purchase for cash (the “Tender Offer”) any and all of the outstanding 6.25% senior notes due 2021 issued by Moy Park (Bondco) Plc, a financing subsidiary of Moy Park Holdings (Europe) Limited and an indirect subsidiary of the Company (the “Moy Park Notes”) pursuant to an Offer to Purchase and Consent Solicitation Statement dated February 21, 2018, which contains detailed information concerning the terms of the Tender Offer and the related consent solicitation (the “Offer to Purchase”).  The remaining proceeds will be used to repay a portion of certain of the Company’s outstanding secured debt and for general corporate purposes.

Following the consummation of the Tender Offer and subject to the Company’s receipt of the aggregate net proceeds from the offering of the Notes, the Company currently intends to redeem any Moy Park Notes that remain outstanding on or after May 29, 2018 in accordance with the “optional redemption” provision in the indenture governing the Moy Park Notes, at a price of 101.5625% of the aggregate principal amount of the Moy Park Notes, plus accrued and unpaid interest.

This press release does not constitute (i) an offer to purchase or a solicitation of an offer to purchase the Moy Park Notes or (ii) a notice of redemption for purposes of the redemption provisions of the indenture governing the Moy Park Notes.  The Tender Offer is being made solely by Moy Park (Bondco) Plc to the holders of the Moy Park Notes pursuant to the Offer to Purchase.

The Notes will be offered in a private offering exempt from the registration requirements of the United States Securities Act of 1933, as amended (the “Securities Act”). The Notes will be offered only to “qualified institutional buyers” pursuant to Rule 144A of the Securities Act and to certain persons outside the United States pursuant to Regulation S of the Securities Act.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes. The Notes have not been registered under the Securities Act, or any state securities laws. Unless so registered, the Notes may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act, and applicable state securities laws.

About Pilgrim’s Pride

Pilgrim’s employs approximately 51,300 people and operates chicken processing plants and prepared-foods facilities in 14 states, Puerto Rico, Mexico, the U.K, and continental Europe.  The Company’s primary distribution is through retailers and foodservice distributors.  For more information, please visit www.pilgrims.com.

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 and its management are considered forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: whether or not Pilgrim’s Pride will offer the Notes or consummate the offering; the final terms of the offering; matters affecting the poultry industry generally; the ability to execute the Company’s business plan to achieve desired cost savings and profitability; future pricing for feed ingredients and the Company’s products; outbreaks of avian influenza or other diseases, either in Pilgrim’s Pride’s flocks or elsewhere, affecting its ability to conduct its operations and/or demand for its poultry products; contamination of Pilgrim’s Pride’s products, which has previously and can in the future lead to product liability claims and product recalls; exposure to risks related to product liability, product recalls, property damage and injuries to persons, for which insurance coverage is expensive, limited and potentially inadequate; management of cash resources; restrictions imposed by, and as a result of, Pilgrim’s Pride’s leverage; changes in laws or regulations affecting Pilgrim’s Pride’s operations or the application thereof; new immigration legislation or increased enforcement efforts in connection with existing immigration legislation that cause the costs of doing business to increase, cause Pilgrim’s Pride to change the way in which it does business, or otherwise disrupt its operations; competitive factors and pricing pressures or the loss of one or more of Pilgrim’s Pride’s largest customers; currency exchange rate fluctuations, trade barriers, exchange controls, expropriation and other risks associated with foreign operations; disruptions in international markets and distribution channel, including anti-dumping proceedings and countervailing duty proceedings; and the impact of uncertainties of litigation as well as other risks described under “Risk Factors” in the Company’s Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission. Pilgrim’s Pride Corporation undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact: Dunham Winoto
  Director, Investor Relations
Pilgrim’s Pride Corporation
  IRPPC@pilgrims.com
  (970) 506 8192
  www.pilgrims.com

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