Bachoco Announces Purchase of Block of Shares

Rhea-AI Summary

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.

Positive

• High credit ratings indicate strong financial health: "AAA (MEX)" and "HR AAA".
• Expansion of shareholder base with recent acquisition of 1.2% of capital stock.

Negative

• Exposure to risks in the poultry industry such as competition and regulatory challenges.

CELAYA, Mexico & GUANAJUATO, Mexico--(BUSINESS WIRE)-- Industrias Bachoco S.A.B. de C.V. ("Bachoco") (NYSE: IBA; BMV: BACHOCO). A leader in the production and commercialization of poultry products and other food products in Mexico, announces that it has been informed by Edificio del Noroeste, S.A. de C.V., a vehicle in which current shareholders of the Robinson Bours Family participate, that said vehicle acquired today, on the Bolsa Mexicana de Valores, S.A.B. de C.V., S.A.B. de C.V., through transactions individually executed with Grupo Bursátil Mexicano, S.A. de C.V., Casa de Bolsa, in its capacity as intermediary, shares that, in the aggregate, represent 1.2% of Bachoco's capital stock.

COMPANY DESCRIPTION. Industrias Bachoco is a leader in the poultry industry in Mexico and one of the largest poultry companies in the world. The Company was founded in 1952, and began trading on the Mexican Stock Exchange and the New York Exchange in 1997. Corporate offices are located in Celaya, Mexico. Bachoco is vertically integrated; its main business lines are: chicken, eggs, balanced feed, pork, among other products. It has more than 1,000 facilities organized into 9 production complexes and 80 distribution centers in Mexico and a production complex in the United States. It currently generates more than 32,000 direct jobs. Bachoco has the following ratings: "AAA (MEX)", the highest rating assigned by Fitch México, S.A. de C.V.; and "HR AAA", which means that the Issuer or the Issue is of the highest credit quality and was granted by HR Ratings de México, S.A. de C.V.

DISCLAIMER. The document contains information that could be deemed forward-looking statements regarding expected future events and results of the Company. The statements reflect management's current beliefs based on currently available information and are not guarantees of future performance and are based on our estimates and assumptions that are subject to risks and uncertainties, including those described in the Annual Information form, which could cause actual results to differ materially from the forward-looking statements contained herein. These risks and uncertainties include risks associated with ownership in the poultry industry, competition for investments in the poultry industry, shareholder liability, government regulation, and environmental matters. Accordingly, there can be no assurance that actual results will be consistent with these forward-looking statements. Except as required by applicable law, Industrias Bachoco, S.A.B. de C.V. undertakes no obligation to publicly update or revise any forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230317005293/en/

IR contact information:

maria.jaquez@bachoco.net

andrea.guerrero@bachoco.net

T. +52 (461) 618 3555

Source: Industrias Bachoco S.A.B. de C.V.

FAQ

What percentage of shares did Edificio del Noroeste acquire in Industrias Bachoco?

Edificio del Noroeste acquired 1.2% of Industrias Bachoco's capital stock.

What is the stock symbol for Industrias Bachoco?

The stock symbol for Industrias Bachoco is IBA.

What are the credit ratings of Industrias Bachoco?

Industrias Bachoco has credit ratings of "AAA (MEX)" from Fitch México and "HR AAA" from HR Ratings de México.

How many employees does Industrias Bachoco have?

Industrias Bachoco employs over 32,000 individuals.

Where is Industrias Bachoco headquartered?

Industrias Bachoco is headquartered in Celaya, Mexico.