Mexican conglomerate Alfa is looking into a possible IPO of food unit Sigma Alimentos.

Alfa confirmed it was studying a share offer for Sigma, which produces products from dairy and meat to frozen food, although the company has yet to decide on whether to proceed with the move.

“We have just said that as a part of our financial strategy, we are exploring the possibility of a Sigma IPO. There is no more information to add,” a spokesperson for Alfa told just-food.

In 2012, Sigma booked revenue of MXN45.48bn (US$3.46bn), up 10.7% on the year. Operating profit stood at MXN4.78bn, 40.8% higher compared to 2011. Net profit reached MXN3.67bn, up sharply from MXN811.1m a year earlier.

In the first half of this year, revenue had grown 4% year-on-year to MXN23.44bn. Operating profit grew 14.2% to MXN2.62bn. However, net profit had dipped 3.7% to MXN1.43bn.