Industrias Bachoco has completed the acquisition of 100% of the shares of Norson Holdings, a vertically integrated pork production and exporting company with operations in Sonora, Mexico.
The planned transaction was announced in December 2022, and Bachoco announced on July 12 that the acquisition had obtained all necessary approvals by Mexican antitrust authorities, and is now completed.
Norson has the capacity to process around 1.3 million pigs per year. Its integration consists of genetics, hog farms, feed mills, slaughter and cut facilities, value added facilities, distribution centers and owned retail shops.
The transaction was valued at US$79 million.
“This acquisition strengthens our inorganic growth strategy and diversifies our other animal protein business line,” said Bachoco CEO Ernesto Salmon. “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.”
Bachoco, primarily known as a broiler and egg producer, entered the pork industry in 2020 with the acquisition of Sonora Agropecuarira. It furthered its presence in the pork industry earlier in 2022 with the acquisition of RYC Alimentos, a meat processor and distributor mainly of beef, pork, and chicken with national coverage that participates in all the distribution channels with fresh and value-added products.
According to the WATTPoultry Top Poultry Companies Database, Bachoco is Mexico’s largest broiler producer and second largest egg producer. During the past year, the company slaughtered 627 million chickens and had a layer flock of 12.5 million hens.
Bachoco’s U.S. subsidiary, OK Foods, is the 16th largest broiler producer in the United States.
