Industrias Bachoco SAB de CV, Mexico’s biggest chicken producer, is looking to gain a bigger share of the world’s largest poultry market through U.S. acquisitions, according to a Bloomberg report this week. Based in Celaya, Mexico, the company joins Tyson Foods Inc. and Pilgrim’s Pride Corp. in searching for a larger share of the North American food market.
Bachoco has just 2 percent in the United States, gained when the company purchased OK Industries Inc. in 2011, compared to the 35 percent of the poultry market in Mexico. According to Chief Financial Officer Daniel Salazar Ferrer, Bachoco’s goal is to be among the top 15 U.S. producers within three years.
Bachoco has continued to expand in recent years with three acquisitions in Latin America and two in North America according to Bloomberg. Shares in the company are up 14 percent in the last month, 29 percent for the year. The company continues to focus on strengthening their position through better investor communication and providing more information for investors and potential investors.
The full Bloomberg report is available here.
