Bachoco reaches agreement with table egg business
One of Mexico's leading poultry producer and processor, Industrias
Bachoco, has reached an agreement with Grupo Agra, a table eggs company located
in Nuevo Leon and Coahuila in Northeast Mexico.
Under the agreement, a rent scheme of the facilities is established, which
includes laying hens farms with a capacity of approx. 1 mln hens, a table eggs
processing plant, distribution centres and the Agra brands. Additionally,
Bachoco will acquire all working capital.
"This agreement brings flexibility to our business and reinforces our table
eggs business line in the northeast market of the country," said Bachoco CEO
Cristobal Mondragon. "We will immediately focus on the integration of this
operation with our table eggs operation located in the state of Coahuila and
take advantage of synergies."
The agreement will be financed with internal resources and Bachoco will
take control of the facilities immediately.
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