Mexican poultry group Bachoco has agreed to buy local eggs business Grupo Agra.
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Bachoco, which is looking to boost its eggs business, said the deal will establish a rent scheme of Grupo Agra’s facilities in north-east Mexico. The company said it would also acquire all the working capital of the business.
Bachoco CEO Cristobal Mondragon said: “This agreement brings flexibility to our business and reinforces our table eggs business line in the north-east market of the country.”
Only 9% of Bachoco’s business comes through egg sales. Almost four-fifths of its revenue comes through poultry.
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By GlobalData
