Industrias Bachoco S.A.B. de C.V., Mexico's leading producer and processor of poultry and other food products, announced that it reached an agreement to acquire the breeding assets in the state of Georgia of Morris Hatchery Inc., a U.S. company.
In 2013, Bachoco acquired the breeding assets in the state of Arkansas of Morris Hatchery Inc.
These assets comprise mainly bird inventory and equipment. This operation has a capacity of around one million laying hens that produces hatching eggs.
Rodolfo Ramos, Bachoco's Chief Executive Officer, stated, "This is the next step to strengthen this particular stage of our supply chain, which allows us to support the organic growth of the company and, at the same time, increase our geographical dispersion and reduce risky situations."
This acquisition will take effect immediately.
Source: Indistrias Bachoco S.A.B. de C.V.