CELAYA, Mexico–(BUSINESS WIRE)–Industrias Bachoco S.A.B. de C.V. (“Bachoco” or “the Company”), Mexican leader in the production and marketing of poultry products and other food, today announced the commencement of a tender offer under Article 108 of the Mexican Securities Market Law, for up to all of the shares representing the capital stock of Bachoco, owned by the investing public to date, at a price of $88.26 pesos per share, payable in cash and Mexican pesos.
It is expected that the members of the Board of Directors of the Company, no later than the tenth business day after the commencement of the tender offer, after hearing the committee in charge of corporate practices, will inform the public investors of their opinion regarding the price of the offering.
The information related to the aforementioned offer is contained in the Mexican offer document, which is available for consultation on the websites of the Mexican Stock Exchange (Bolsa Mexicana de Valores, S.A.B. de C.V.) (www.bmv.com.mx) and the Mexican Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) (www.cnbv.gob.mx).
The offer is expected to expire on September 29, 2023, unless extended on the terms described in the aforementioned offering documents.
COMPANY DESCRIPTION
Industrias Bachoco is the leader in the Mexican poultry industry, and one of the largest poultry producers globally.
The Company was founded in 1952. Bachoco is a vertically integrated Company headquartered in Celaya, Guanajuato located in Central Mexico. Its main business lines are: chicken, eggs, balanced feed, pork, and other products. Bachoco owns and manages more than a thousand facilities, organized in 9 productive complexes and more than 100 distribution centers in Mexico, and a productive complex in the United States. Currently the Company employs more than 34,000 people. The Company is rated “AAA (MEX)”, the highest rating awarded by Fitch Mexico, S.A. de C.V., and “HR AAA” which signals that the Company and the offering both have the highest credit quality by HR Ratings de Mexico 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.
This press release is not an offer to sell securities in the United States, Mexico, or elsewhere. The securities may not be offered or sold in the United States, Mexico, or any other jurisdiction without registration or an exemption from registration. Any public offering of securities in the United States or Mexico must be made through the preparation of a prospectus.
Contacts
IR contact information:
maria.jaquez@bachoco.net
andrea.guerrero@bachoco.net
T. +52 (461) 618 3555
