Industrias Bachoco will acquire Alabama-based Albertville Quality Foods (AQF) through Bachoco's subsidiary OK Foods.
AQF produces and sells value-added further processed products, with sales of US$270 million per year.
Rodolfo Ramos, CEO of Industrias Bachoco states: “With this acquisition, we will continue the growing of our U.S. operation, mainly with further processed products. We are confident that we will be able to quickly integrate this company into our current operations and to capitalize the opportunities and synergies we have identified.”
The company expects to close this acquisition in a short time.
According to WATTAgNet’s Top Poultry Companies database, Industrias Bachoco is the largest poultry company in Mexico and among the top six worldwide chicken processors, holding nearly 40 percent market share in Mexico. It sold roughly 1.5 million metric tons of poultry products in 2014. Net poultry revenues for 2014 were nearly MXN38 billion. The company produces Ross broilers and has Bovans, Hisex and Hy-Line layers in production. Bachoco has more than 1,000 production and distribution facilities organized into nine complexes throughout Mexico.
Bachoco acquired OK Foods in the U.S. in 2011.