Industrias Bachoco has closed on a deal to invest in Sonora Agropecuaria S.A. de C.V in Sonora (SASA) one of the top swine producers in Mexico, according to a news release.
"This agreement is in line with our inorganic growth strategy, making synergy with our actual business line of live swine, allowing us to enter in the processed and export pork business," Rodolfo Ramos, Bachoco CEO, said in the release. Mexican Antitrust authorities have approved the deal, the release said.
In the agreement, Bachoco will acquire 54.8% of Sonora Agropecuaria S.A. de C.V's capital stock. Bachoco will also acquire other assets in the deal such as live swine.
As part of the deal, Bachoco will invest in the swine industry for the next four years.
"We are expecting to integrate this operation as soon as possible in order to capture the opportunities that we have identified," Ramos said.
Sonora Agropecuaria S.A. de C.V is one of the top swine processors in Mexico and serves domestic and export markets.
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