Everywhere you look, chicken is taking flight, and not the soaring, victorious kind either. Last Thursday, agricultural conglomerate Afgri announced devastating losses in their poultry business, and but one day later, Pioneer announced that it would be “unbundling” (an industry term meaning “to run screaming from”) Quantum, its own poultry, erm, wing. Quantum, Pioneer announced, would be separately listed within 12 months subject to “any other acceptable corporate action", and would be regarded as an “asset-held-for-sale”, ring fenced as a separate legal entity. This marks new-CEO Phil Roux’s first big strategic move, and it looks so far like a bold and defensive one.
Comment: With the poultry sector under such strain, it's probably a sound decision.