Kimberly Redmond | |

Poultry giant Sanderson Farms Inc (Nasdaq: SAFM) has agreed to be sold for $4.53 billion to food company Cargill Inc and agricultural investment firm Continental Grain Co in a deal that would take the country’s third-biggest chicken producer private.

On Monday, the two buyers announced they have formed a joint venture to acquire Sanderson Farms, which will be combined with Wayne Farms, a Continental Grain subsidiary, to create a new, privately-held poultry business.