Aug. 23, 2011
Industrias Bachoco S.A.B.
" or "the Company") (NYSE: IBA; BMV:
's leading producer and processor of poultry and other food products, announced today that the Company reached an agreement with Grupo OSIG to acquire the assets of Trosi de Carnes, S.A. de C.V. This facility is located in
Monterrey, Nuevo Leon
. The acquisition will take effect immediately.
With annual sales of approximately Ps. 250 million, Trosi de Carnes produces and sells processed beef and chicken. Trosi de Carnes's products include hamburgers, chicken nuggets and other value added products for the retail and commercial segments in
. This facility also exports a portion of its production to
's Chief Executive Officer, stated: "This acquisition fits into
's strategy as it reinforces our leadership in processed chicken products, which is a growing product line in
. It also allows
to capture synergies with our current complex in
, as well as with our other further process plants located in
, reaching a national coverage in further processed chicken products. With the acquisition of this new facility, the Company seeks to diversify its product line, entering into the further processed products line for beef, with capacity to enter into pork products, as well as leveraging the experience of a recognized company. In conclusion, this acquisition will allow
to better serve current and future customers, while advancing the Company's strategy of becoming a top food company in
Industrias Bachoco is the leader of the Mexican poultry industry and an important player in
's food industry. Its main product lines are chicken, table eggs, balanced feed and swine. Founded in 1952,
is headquartered in
, in the state of
with operations that span the country including 60 distribution centers, and a growing export business.
trades on both the Mexican and New York Stock Exchanges under the ticker IBA and BACHOCOB.MX For the year ended
December 31, 2010
, the Company reported Net Sales of over
US$ 2 billion
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, whether as a result of new information, future events or otherwise.
SOURCE Industrias Bachoco, S.A.B. de C.V.