O.K. Foods agrees to acquisition by Mexican poultry firm

Discussion in 'Random Ramblings' started by Farmer31, Nov 5, 2011.

  1. Farmer31

    Farmer31 Out Of The Brooder

    Aug 6, 2011
    In a market that has made U.S. poultry companies ripe for the plucking, Mexican poultry giant Industrias Bachoco announced today it has reached an agreement to acquire Fort Smith, Ark.-based O.K. Industries.

    Bachoco said it would continue to operate the acquired company as O.K. Industries Inc., one of the largest vertically integrated poultry companies in the U.S. with assets that include processor O.K. Foods. O.K. has 4,000 employees, production facilities in Arkansas and Oklahoma, processing capabilities of about 2.5 million birds per week and sales near $600 million per year. O.K. supplies retailers, foodservice distributors and commodity customers in the U.S. and abroad.

    "This acquisition is one of the most transcendental steps for Bachoco, since it is our first international acquisition and first entry into the U.S. poultry market," Bachoco CEO Rodolfo Ramos said in a news release. "Bachoco will benefit from the knowledge and expertise of O.K.'s experienced management team, a key reason behind their industry leadership. This will also enable Bachoco to enhance its product offering and regional footprint, while achieving a better understanding of the U.S. chicken market."

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