IBA - IBA STOCK NEWS

Industrias Bachoco, a leader in Mexico's poultry industry, has officially delisted its American Depositary Receipts (ADRs) from the New York Stock Exchange (NYSE) and is terminating its ADR program. This move comes after filing Form 15F with the U.S. Securities and Exchange Commission (SEC) on April 24, 2023, which suspends its Exchange Act reporting obligations. Consequently, Bachoco will not file its annual report on Form 20-F for the fiscal year ending December 31, 2022. Despite these changes, Bachoco will continue to meet its reporting obligations in Mexico, including annual reports to the Mexican Securities Commission and the Mexican Stock Exchange. The company is rated AAA by Fitch México, indicating strong credit quality.

Industrias Bachoco (NYSE: IBA) announced plans to delist its American Depositary Receipts (ADRs) from the New York Stock Exchange due to low trading volumes and a tender offer concluded in November 2022 that resulted in the Robinson Bours Family controlling over 97% of shares. The company will also terminate its ADRs program and is expected to deregister under the Securities Exchange Act of 1934, although this will not affect its listing on the Bolsa Mexicana de Valores. Bachoco is a key player in the poultry industry, boasting high credit ratings and a significant employment footprint in Mexico.

Industrias Bachoco S.A.B. de C.V. (NYSE: IBA) has announced that Edificio del Noroeste, S.A. de C.V., associated with the Robinson Bours Family, acquired 1.2% of Bachoco's capital stock through transactions on the Bolsa Mexicana de Valores. As a leading player in the poultry industry, Bachoco operates more than 1,000 facilities in Mexico and the U.S., employing over 32,000 individuals. The company holds high credit ratings of "AAA (MEX)" from Fitch México and "HR AAA" from HR Ratings de México, reflecting its strong financial position. Forward-looking statements in the PR highlight risks within the poultry industry, including competition and regulatory challenges.

Industrias Bachoco S.A.B. de C.V. (NYSE: IBA) announces that Edificio del Noroeste, S.A. de C.V., associated with the Robinson Bours Family, has acquired 8.0% of Bachoco's capital stock through transactions on the Bolsa Mexicana de Valores. This acquisition denotes a significant shareholder interest in the company, which is a leader in Mexico's poultry sector and is among the largest globally. Founded in 1952, Bachoco operates over 1,000 facilities and employs more than 32,000 individuals. The company holds high credit ratings of AAA (MEX) from Fitch and HR AAA from HR Ratings de México, indicating robust financial health and investment quality.

Industrias Bachoco (NYSE: IBA) reported its unaudited financial results for 4Q22 and full year 2022. Net sales for 4Q22 rose by 11.2% to $23,633.8 million, and full-year sales increased by 21.0% to $98,890.7 million. However, the company faced challenges, with 4Q22 EBITDA margin decreasing to 2.9% from 4.0% in 4Q21. Despite a strong first half, rising raw material costs and increased SG&A expenses led to a significant drop in operating income by 38.7% compared to the previous year. Net income for the quarter fell to $58 million, down 90.3% year-over-year, resulting in an earnings per share of $0.13.

Industrias Bachoco S.A.B. de C.V. (NYSE: IBA) announced the retirement of its CEO, Mr. Rodolfo Ramos Arvizu, who has served since November 2010 and joined the company in 1980. His leadership has positioned Bachoco as a significant player in the international multiprotein market. Effective April 17, 2023, Mr. Ernesto Salmon Castelo, who joined in 1991 and held various positions including Mexico Operations Director, will succeed Mr. Ramos. The company aims to ensure operational continuity and leverage Mr. Salmon's expertise for future growth. Bachoco, a leader in the Mexican poultry industry with over 32,000 employees, also holds an AAA rating from Fitch Mexico.

Industrias Bachoco has announced the acquisition of 100% of Norson Holding, a major pork producer in Mexico. This strategic move aligns with Bachoco's growth plans in the pork sector and its diversification strategy across protein sources. Norson, with over 40 years in the industry, operates a fully integrated supply chain and exports to key markets including the USA, Japan, China, and Korea. The acquisition is pending approval from Mexican antitrust authorities, COFECE, before further details are disclosed.

Industrias Bachoco S.A.B. de C.V. (NYSE: IBA) announced the successful completion of a tender offer by current shareholders for up to all outstanding Series 'B' shares, representing approximately 27% of its capital stock. A total of 86,589,532 shares were accepted, resulting in the Offeror and affiliates owning 87.7% of Bachoco's capital stock. Bachoco continues to lead the poultry industry in Mexico and boasts a strong credit rating with over 29,000 direct jobs generated.

Industrias Bachoco announced that a tender offer for its Series "B" shares, led by current shareholders, concluded on November 4, 2022. Approximately 86.6 million shares were accepted, increasing the Offeror’s ownership to 87.7% of Bachoco's capital stock. The company is a major player in the poultry sector, providing chicken, eggs, and pork, and employs over 29,000 individuals. It holds high credit ratings from Fitch and HR Ratings, indicating strong financial stability.