Bachoco acquires US poultry breeding operation
Mexico's leading poultry producer, Industrias Bachoco has reached an agreement to acquire the breeding assets of US company, Morris Hatchery Inc., in Arkansas.
These assets comprise mainly equipment and bird inventory. This operation has a capacity of around 350,000 laying hens that produces hatching eggs.
Rodolfo Ramos, Bachoco's Chief Executive Officer, stated: "This is a strategic acquisition for our Company for several reasons; first, it will rapidly reinforce our supply of hatching eggs for our Mexico and US operations, thus ensuring a proper supply of chicken for our customers; secondly, it represents a step towards our organic growth, and; lastly, this operation is located in a region far enough from our current breeding complexes, thereby increasing dispersion and reducing sanitary risks for our operations."
The acquisition will take effect immediately.
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