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.”