October 31, 2011

Industrias Bachoco to buy O.K. Industries

Mexico's Industrias Bachoco has agreed to buy US O.K. Industries Inc., said the former on Friday (Oct 28).

Bachoco said O.K. Industries has facilities in the River Valley zone of Arkansas and Oklahoma, processing 2.5 million chickens per week and supplying supermarkets and fast-food restaurants, among others, in the US and abroad.

Bachoco said O.K. Industries has annual sales of about US$600 million, but did not say how much it will pay for the company. Bachoco had sales of US$1.38 billion in the first nine months of 2011.

Bachoco, Mexico's biggest poultry producer, said the agreement is its first international acquisition, and that it will continue to operate the US business under the name of O.K. Industries.