Industrias Bachoco to acquire O.K. Industries
Oct. 28, 2011
by Meat&Poultry Staff
CELAYA, MEXICO — Industrias Bachoco S.A.B. de C.V., a poultry processor, has entered into an agreement to acquire O.K. Industries, Inc., a U.S.-based poultry processor with headquarters in Fort Smith, Ark. Terms of the agreement were not disclosed.
O.K. Industries processes 2.5 million chickens per week and has annual sales of approximately $600 million.
“This acquisition is one of the most transcendental steps for Bachoco, since it is our first international acquisition and first entry into the U.S. poultry market,” said Radolfo Ramos, chief executive officer of Industrias Bachoco. “Bachoco will benefit from the knowledge and expertise of O.K.’s experienced management team, a key reason behind their industry leadership. This will also enable Bachoco to enhance its product offering and regional footprint, while achieving a better understanding of the U.S. chicken market.”