CELAYA, México, Nov. 29, 2019 /PRNewswire/ -- Industrias Bachoco
S.A.B. de C.V. ("Bachoco" or "the
Company") (NYSE: IBA; BMV: Bachoco), leading producer and processor of
poultry and other food products, announced today that an
agreement has been reached on investing in the company Sonora
Agropecuaria S.A. de C.V. "SASA", a swine processing and
distributor company with operations in the states of Sonora and
Jalisco.
SASA is one of the ten principle processors in Mexico.
They have a production capacity of about 15,000 swine per week,
having participation in the national and export markets.
Rodolfo Ramos, Bachoco's Chief Executive Officer,
stated:
"This agreement will make synergies with our actual
live swine business, while allowing us to accelerate our rhythm of
growth and continue to move forward in the process of
diversification on other animal proteins.
We will look to complete this process at the beginning of 2020
and capture the opportunities we have identified."
COMPANY DESCRIPTION
Industrias Bachoco is the leader
in the Mexican poultry industry, and one of the largest poultry
producers globally.
The Company was founded in 1952, and became a public Company in
1997, via a public offering of shares on the Mexican and The New
York Stock Exchange. Bachoco is a
vertically integrated Company headquartered in Celaya, Guanajuato located in Central Mexico. Its main business lines are:
chicken, eggs, balanced feed, swine, and other products.
Bachoco owns and manages more than
a thousand facilities, organized in nine productive complexes and
66 distribution centers in Mexico,
and a productive complex in the United
States. Currently the Company employs more than 27,000
people. The Company is rated AAA (MEX), the highest rating
awarded by Fitch Mexico, S.A. de C.V., and HR AAA which
signals that the Company and the offering both have the highest
credit quality by HR Ratings de Mexico S.A. de C.V.
DISCLAIMER
The document contains certain information
that could be considered forward looking statements concerning
anticipated future events and performance of the Company. The
statements reflect management's current beliefs based on
information currently available and are not guarantees of future
performance and are based on our estimates and assumptions that are
subject to risks and uncertainties, including those described in
our Annual Information Form, which could cause our actual results
to differ materially from the forward-looking statements contained
in this document. Those risks and uncertainties include risks
associated with ownership in the poultry industry, competition for
investments within the poultry industry, shareholder liability,
governmental regulation, and environmental matters. As a result,
there can be no assurance that actual results will be consistent
with these forward-looking statements. Except as required by
applicable law Industrias Bachoco, S.A.B. de C.V. undertakes no
obligation to publicly update or revise any forward-looking
statement.
Contact:
Maria Guadalupe Jaquez
+011-52-461-618-3555
maria.jaquez@bachoco.net
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SOURCE Industrias Bachoco, S.A.B. de C.V.