Industrias Bachoco S.A.B. de C.V. (Bachoco), Mexico's leading producer and processor of poultry and other food products, announced that it has, through its OK Foods subsidiary, reached an agreement to acquire Alabama-based Albertville Quality Foods.
Albertville Quality Foods produces and sells value-added, further-processed products, with sales of around $270 million annually.
"With this acquisition, we will continue the growing of our U.S. operation, mainly with further-processed products,” Rodolfo Ramos, chief executive officer of Bachoco, said. “We are confident that we will be able to quickly integrate this company into our current operations and to capitalize the opportunities and synergies we have identified."
Bachoco expects to close this acquisition in a short time.