Celaya, Mexico /PRNewswire/ -- Industrias Bachoco S.A.B. de C.V. ("Bachoco" or "the Company") (NYSE: IBA; BMV: Bachoco), Mexico's leading producer and processor of poultry and other food products, announced today that it reached an agreement to acquire "La Perla" a Pet Food company located in the Mexican state of Queretaro.
This acquisition comprises all the assets, which are located in the State of Queretaro in Central Mexico, including La Perla's Brands, like CanPro, Choice Nutrition and Cat-trina, among others.
These assets have the capacity to produce over 65,000 tons a year of dry pet food and also comprise a facility for producing Pet Food Treats.
Rodolfo Ramos, Bachoco's Chief Executive Officer, stated:
"With this acquisition we are increasing significantly our Pet Food capacity, a product line in which we have had satisfactory results so far, and in which we see an interesting future. Furthermore, this acquisition will allow us to enter into the Pet Food Treats market, a growing sector in this business line.
We will look to integrate this operation, as soon as possible, into our normal operations and capture the opportunities we have identified."
The company expects to close the deal shortly, through its subsidiary Campi Alimentos S.A. de C.V.
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 64 distribution centers in Mexico, and a productive complex in the United States. Currently the Company employs more than 25,000 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.
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.
SOURCE: Industrias Bachoco, S.A.B. de C.V.Copyright 2017 PR Newswire. All Rights Reserved