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December 17, 2020

Industrias Bachoco invests in Mexico meat peer RYC Alimentos

Mexican poultry group Industrias Bachoco has struck a deal in its home market with another local meat processor.

By Dean Best

Mexican poultry group Industrias Bachoco said it has reached an agreement to invest in local meat processor RYC Alimentos.

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Founded in 1983, RYC Alimentos is based in Puebla, and serves both the retail and foodservice channels with beef, pork and chicken products under brands such as Practi Rico, Frontera, Confi and Cowboy Grill. It also has an operation in the US located at San Antonio in Texas.

Bachoco did not provide further details in terms of any stake taken or whether it has acquired the business outright. just-food has asked for clarification.

Rodolfo Ramos, the CEO of Bachoco, said in a statement: “This agreement is in line with our inorganic growth strategy, allowing us to keep solidly moving towards the consolidation in animal proteins as well as in value-added products. At the same time, with this investment we reinforce our commitment of contributing with the nourishment of our consumers.”

The deal is subject to clearance from competition authorities.

Bachoco is also present in the retail and out-of-home channels and generated net sales in the fiscal year to 31 December 2019 of MXN3.26bn (US$164.9m), 73% of which came from Mexico and the remainder from overseas. Net profit amounted to MXN171m. In 1997, the company gained stock market listings in its home country and also in the US. The business supplies chicken and turkey products, beef burgers, eggs and broths. It employs more than 28,000 people.

Last year, Bachoco also invested in pork processor and distributor Sonora Agropecuaria in Mexico and two years earlier acquired Alabama-based Albertville Quality Foods via its US subsidiary OK Foods.

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Innovation Update Q2 2022: Meat and Meat Alternatives

Meat alternatives continue to push boundaries, as companies explore 3D printed, plant-based, and precision fermentation-based alternatives. As a result, shoppers are more open to experimental formulations that introduce new flavors to meat products, blur traditional food categories, or swap in new ingredient types. It is vital for their development that retailers acknowledge this range of emerging trends during these increasingly uncertain times. Brands must continue to understand how consumer needs and desires change, and offer a range of products that reflect the world around them, therefore developing purchasing and consumption decisions. Exciting non-traditional formulations are hitting the market - following the trajectories and target audiences of these launches will help other brands find their niche. Consult our report on Meat and Meat Alternatives, from the collection of >17,000 reports on GlobalData Explorer, to:  
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  • Marketing / Advertising strategies being used by these players for specific products
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