MEXICO – Industrias Bachoco, a leader in the Mexican poultry industry and one of the largest poultry producers globally, has signed an agreement to acquire 100% of the stocks of RYC Alimentos a processor and distributor of mainly beef, pork, and chicken.
RYC was founded in 1983 and its stockholder equity is currently valued at US$61 million and its annual net sales are estimated at around US$150 million.
The company currently employs approximately 900 people and the products it produces and sells are processed and value-added.
Under the agreement, Bachoco will take ownership of RYC Alimentos facilities in Puebla, Mexico together with its 21 stores located in other Mexican states, Oaxaca, Veracruz and Tlaxcala.
RYC Alimentos joins Bachoco extensive manufacturing footprint comprising of 1,000 facilities, organized in nine complexes and 80 distribution centers in Mexico, and a complex in the United States.
Ernesto Salmon Castello takes charge as CEO
The company also recently announced the retirement of its CEO, Rodolfo Ramos Arvizu, to be succeeded by Ernesto Salmon Castello.
Rodolfo Ramos joined the company in 1980 and held several positions in the company such as Technical Director and poultry management among many others before being appointed CEO in November 2010.
Javier Bours, Bachoco Chairman said, “I would like to thank Rodolfo for his commitment, work and dedication to the company during these 43 years.
Under his leadership, the company not only achieved becoming an international player but also made solid steps towards being an important multiprotein player in Mexico.”
Following his retirement, Mr Ramos will be nominated as a member of the board of directors of Bachoco, Bours revealed.
Ramos’ successor Ernesto Salmon Castello, joined the company in 1991 and has held positions in sales, operations and supply chain. He was serving as Mexico operations director before the promotion.
Mr Salmon holds a degree in Chemical Engineering and a master’s degree in Business Administration from the Instituto Tecnologico de Sonora.
The company seeks to leverage Ernesto’s knowledge and expertise to guarantee the continuity of its operations and strategies and to strengthen Bachoco’s position as an important international player in the multiprotein industry.
Mr Salmon will take on the role of CEO on April 17, overseeing operations of a company that employs more than 29,000 people.