CELAYA, Mexico--(BUSINESS WIRE)--Industrias Bachoco S.A.B. de C.V. ("Bachoco" or "the Company"), announces today that the agreement to acquire 100% of the stocks of Norson Holdings S. de R.L de C.V. has concluded; Norson is a producer and exporter of pork, vertically integrated, with operations in Sonora, Mexico.
At the beginning of December 2022, the Company announced to the investors' community the start of the acquisition process of Norson. After a corresponding review and approval by the Mexican antitrust authorities, the Company announces the commencement of the integration process of this operation.
Norson Holding S. de R.L. de C.V. has capacity to process around 1.3 million heads a year with annual estimate sales of $350 millions of dollars. The amount of the transaction was around $79 millions of dollars.
Ernesto Salmon, CEO of Bachoco, stated:
"This acquisition strengthens our inorganic growth strategy and diversifies our other animal protein business line. In synergy with our participation in SASA, Norson will add capacity of process and distribution not only in the national market, but also in the export market as well. This, along with the integration of the talent of their more than 2,500 employees, will allow Industrias Bachoco to reinforce its presence in the Mexican market in order to continue being one of the main animal protein producers."
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. Bachoco is a vertically integrated Company headquartered in Celaya, Guanajuato located in Central Mexico. Its main business lines are: chicken, eggs, balanced feed, pork, and other products. Bachoco owns and manages more than a thousand facilities, organized in nine productive complexes and more than 100 distribution centers in Mexico, and a productive complex in the United States. Currently the Company employs more than 34,000 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.
Contacts
IR contact information:
maria.jaquez@bachoco.net
andrea.guerrero@bachoco.net
T. +52 (461) 618 3555
