‘Cluckingham Palace’ in Pittsburg, Texas, features six bedrooms and an indoor swimming pool on 43 acres.
Sept. 11, 2019 7:30 am ET
Talk about a hen house. Fake-meat competitors may be pecking away at chicken sales, but
’s late founder Bo Pilgrim’s sprawling Texas estate hopes to have its heyday. The 18,000-square-foot mansion in the town of Pittsburg, Texas, dubbed “Cluckingham Palace,” is headed for auction. Like Pilgrim’s Pride’s shares though, the six-bedroom home with an indoor swimming pool on 43 acres may struggle to appeal to a younger generation.
Millennials’ habits have changed. The growing popularity of plant-based diets is giving rise to fake chicken products, even at the likes of KFC. Over the past five years, Pilgrim’s Pride’s stock price has been roughly flat while the S&P 500 has risen almost 50%. The company has also been rocked with controversy such as a Justice Department investigation of chicken pricing. Huge mansions have gone out of style. Rapper 50 Cent’s house in rural Connecticut recently sold for 84% less than what he sought 12 years ago. Last year, a Houston mansion modeled after the Palace of Versailles had to lower its price 30% to $30 million. Mr. Pilgrim’s home does have some appealing features, such as swan sculptures in a pond. Perhaps for a buyer looking to ruffle feathers, that is something to cluck about. Write to Lauren Silva Laughlin at firstname.lastname@example.org
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