Food supplier Tulip, which has sites in Redruth and Bodmin, has been sold to a Brazilian company for £290 million.

The UK's largest pork producer employs 6,000 people nationwide and invested £10 million into its Redruth factory in July this year.

Yesterday (Wednesday August 28) it was announced that Tulip will be acquired by Pilgrim's Pride Corporation from previous owners Danish Crown.

Danish Crown will continue to supply Danish pork to Tulip Limited under a long-term supply agreement.

Jayson Penn, Pilgrim's global CEO said: "We are pleased to strengthen our European foods platform with the acquisition of Tulip Limited, which positions Pilgrim's as a leading global prepared foods player.

"The transaction represents the logical next step in our evolution to expand our geographical footprint, enhance our value-added portfolio and reduce volatility across our business with a more stable margin profile.

"Tulip Limited’s integrated production platform, consumer ready innovation capabilities, well-invested assets, established customer relationships and strong leadership team will solidify Pilgrim’s platform for growth in the attractive UK market.”

Andrew Cracknell, CEO of Tulip Limited, said: “Pilgrim’s is acquiring an industry-leading farming operation, a strong team of dedicated people and a network of well-invested manufacturing sites,

“Our companies share a rich heritage in agriculture and food production with aligned values that put people and customers at the heart of all we do.

"The Tulip Limited leadership team and I look forward to working with our new colleagues to build upon the fantastic progress made within the business and realise our combined growth opportunities as we enter an exciting new phase.”