Mexican poultry group Industrias Bachoco has reached an agreement to buy Morris Hatchery's chicken breeding assets in the US state of Georgia.
Rodolfo Ramos said the deal enabled Bachoco to step up its organic expansion and further diversify geographically. "This is the next step to strengthen this particular stage of our supply chain, which allows us to support the organic growth of the company and, at the same time, increase our geographical dispersion and reduce risky situations," he said.
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These assets comprise mainly bird inventory and equipment. The operation has a capacity of around 1m laying hens that produces hatching eggs.
In 2013, Bachoco acquired Morris Hatchery's breeding assets in the state of Arkansas.
Financial details of the transaction were not disclosed.
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