Pilgrim’s to Pay $110 Million Fine for Chicken Price Fixing (1)

Pilgrim’s Pride Corp. will pay a $110.5 million fine after striking a plea deal with the U.S. Department of Justice on price-fixing allegations that have ensnared two former CEOs of the second-biggest American chicken producer.

The unit of Brazilian meat giant JBS SA reached a plea agreement over limiting competition on three chicken contracts with a U.S. customer, the Greeley, Colorado-based company said Wednesday. The arrangement is subject to approval by the U.S. District Court of Colorado and provides that the antitrust division refrain from further charges if the company complies.

The price-fixing allegation came as U.S. meat processors were ...