Bachoco Announces Purchase of Block of Shares

Rhea-AI Summary

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.

Positive

• Acquisition of 8.0% of capital stock by Edificio del Noroeste indicates shareholder confidence.
• Bachoco's strong market position as a leader in the poultry industry supports long-term growth potential.
• High credit ratings (AAA from Fitch and HR AAA from HR Ratings) reflect solid financial stability.

Negative

• None.

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 8.0% 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/20230310005398/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 is the recent acquisition related to Industrias Bachoco (IBA)?

Edificio del Noroeste, associated with the Robinson Bours Family, acquired 8.0% of Bachoco's capital stock on the Bolsa Mexicana de Valores.

What does the acquisition of 8.0% by Edificio del Noroeste indicate for IBA's investors?

The acquisition signifies strong shareholder confidence and interest in the future performance of Bachoco.

What is the significance of Bachoco's AAA credit rating?

Bachoco's AAA credit rating from Fitch indicates high credit quality and financial stability, which can attract investors.

How many people does Industrias Bachoco employ?

Industrias Bachoco generates more than 32,000 direct jobs across its operations.