Pilgrim's Pride Corporation (NASDAQ: PPC) and its wholly owned subsidiary, Pilgrim's Europe Finance plc, have commenced a private offering of up to €500 million in aggregate principal amount of senior notes, according to a company statement.

The company said it intends to use the net proceeds for general corporate purposes, including funding its previously announced acquisition of Walkers Deli & Sausage Company and paying related costs and expenses. The offering is not conditioned on the closing of that acquisition.

The notes have not been registered under the Securities Act of 1933 and will be offered only to qualified institutional buyers under Rule 144A and to certain non-U.S. persons under Regulation S. The notes may not be offered or sold in the United States without registration or an applicable exemption.

Pilgrim's Pride employs approximately 63,000 people and operates protein processing and prepared-foods facilities across 14 U.S. states, Puerto Rico, Mexico, the U.K., the Republic of Ireland, and continental Europe.