The transaction was valued at about $8 million and includes all of the assets located in Oklahoma City, according to a press release issued by the company. The facility was previously owned by American Foods Group.
“We are excited to add the Oklahoma City plant to our company along with our existing plants in Muldrow, Stigler, and Heavener and further expand our relationship with the Oklahoman community” said Trent Goins, OK Foods president and CEO. “OK Foods plans to increase the production in this facility, which will allow OK Foods to hire even more hard-working employees from the local community.”
An estimated 100 new employees will be hired to work at the plant.
Bachco initially announced its intent to purchase the plant, which has a capacity to produce more than 700,000 pounds of fully cooked chicken products in December.
"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," Bachoco CEO Rodolfo Ramos said at the time.
Bachoco, which is among the top six worldwide chicken processors, holds nearly 40 percent of the market share in Mexico. It sold roughly 1.5 million metric tons of poultry products in 2014, according to the WATTAgNet Top Poultry Companies Database. OK Foods reported 14.7 million pounds of ready to cook chicken production on a weekly basis in 2014.