Industrias Bachoco, S.A.B. de C.V. (NYSE: IBA) disclosed that it has inked an agreement to purchase 100% of the stocks of RYC Alimentos. The agreement reflects the purchase of two plants in Puebla, as well as around 21 storefronts in four states across Mexico (Puebla, Oaxaca, Veracruz, and Tlaxcala). Industrias Bachoco S.A.B. de C.V. will handle this transaction.
Industrias Bachoco has earned a reputation as the Mexican poultry industry’s leader and one of the world’s major poultry producers. The company was established in 1952. Industrias Bachoco, S.A.B. de C.V became public in 1997 with a public offering of shares on the Mexican and New York Stock Exchanges.
RYC has gained recognition as a national meat processor and distributor specializing in beef, pork, and poultry was established in 1983 and operates in all distribution channels with fresh and value-added goods. This, combined with the efforts of over 900 employees, has propelled RYC to the forefront of its industry.
Furthermore, this company’s stockholders’ equity is estimated to be worth $61 million US dollars. With net sales of roughly $150 million US dollars per year, RYC makes and markets further refined and value-added products.