Bankruptcy court OKs sale of Pilgrim's Pride plant

CHICAGO, May 19 (Reuters) - The U.S. Bankruptcy Court on Tuesday approved the sale of Pilgrim's Pride Corp's Farmerville, Louisiana, chicken processing facility to California-based chicken producer Foster Farms, Pilgrim's Pride said.

The approval clears the way for the sale to be completed.

Earlier this month, the two companies announced the deal. The plant would be sold to Foster Farms for $80 million, of which the state of Louisiana will provide about $40 million.

Pittsburg, Texas-based Pilgrim's Pride has been operating under bankruptcy protection since December. It has been closing plants, reducing production, and laying off workers as it works to return to profitability. (Reporting by Bob Burgdorfer; editing by Carol Bishopric)