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Mexico's Bachoco seeks deals in U.S.

Tuesday, June 24, 2014

Industrias Bachoco, Mexico’s biggest chicken producer, is scouring for U.S. acquisitions to gain a bigger share of the world’s largest poultry market.

While the Celaya, Mexico-based company has 35 percent of the Latin American nation’s poultry market, it has just 2 percent in the U.S. after buying OK Industries Inc. in 2011, Chief Financial Officer Daniel Salazar Ferrer said.

Bachoco wants to be among the top 15 U.S. producers within three years.

Source: Bloomberg