CELAYA, Mexico — Industrias Bachoco S.A.B. de C.V., Mexico’s leading producer and processor of poultry and other food products, announced it has reached an agreement to acquire from American Foods Group, a fully-cooked facility located in Oklahoma City, Okla.
The transaction is valued at approximately $11 million dollars. This acquisition comprises all the assets located in Oklahoma City, with a capacity to produce more than 700,000 pounds per week, of fully cooked chicken products.
Rodolfo Ramos, Bachoco’s chief executive officer, stated: “This is a strategic acquisition for our company as we continue to streamline and improve the product mix in our U.S. operations. This means that we will be able to integrate other further processed customers into our sales mix and move out from the commodity market. This strategy is in line with our growth plans in the U.S.”
The company expects to close the deal in February, 2016 through OK Foods subsidiary located in Arkansas and Oklahoma.
Industrias Bachoco, founded in 1952, 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 64 distribution centers in Mexico, and a productive complex in the United States. Currently the company employs more than 25,000 people.