VF had previously purchased one-third of Mo Industries stock from its owners -- founder Moise Emquies and Summit Partners, a private equity and venture capital firm for growth companies -- in June 2008.
The plans are expected to generate estimated annualized savings of $110 million as Pilgrim's Pride continues shift to becoming a market-driven company.
The company announces a new executive vice president for global business development and executive vice president and chief operating officer, both effective May 1.