CELAYA, Mexico–(BUSINESS WIRE)–Industrias Bachoco S.A.B. de C.V. («Bachoco«), national leader in the production and marketing of poultry products in Mexico, announces, with respect to rumors appearing in social networks and other media, related to the tender offer consummated by Bachoco on September 1, 2023 («Offer«), pursuant to Article 108 of the Ley del Mercado de Valores (the “Mexican Securities Market Law”), that it has not been notified of any judicial resolution that has the effects referred to in such news rumors.
However, if as a result of any process initiated by any alleged shareholder, a suspension as described in the aforementioned media were to be decreed, it would necessarily refer to a consummated and executed fact, therefore, with the information available, we do not consider that it could imply the suspension, modification or termination of the tender offer that has already taken effect as of September 1, 2023, since this type of resolutions do not have restitutory effects and cannot affect consummated situations. In the Offer, it is only pending the conclusion of the sales and purchases voluntarily made by the shareholders who wish to do so. To affect an authorized and executed Offer would affect not only Bachoco but also the investing public that in good faith participated in such Offer, in addition to affecting the healthy functioning of the markets. It is surprising the lack of ethics in spreading rumors, affecting the investing public, and the undue excitation of the judicial power to try to obtain illegitimate advantages, which translate into blackmail that has only caused uncertainty in these processes.
Consequently, regardless of press releases and rumors, which we do not consider to be material, Bachoco announces that, as of today, it is not aware of any suspension of the tender offer process and intends to honor its offer to the investing public on its terms.
Industrias Bachoco is a leader in the poultry industry in Mexico and one of the largest poultry companies in the world. The Company was founded in 1952, and began trading on the Mexican Stock Exchange and the New York Exchange in 1997. Corporate offices are located in Celaya, Mexico. Bachoco is vertically integrated; its main business lines are: chicken, eggs, balanced feed, pork, among other products. It has more than one thousand facilities organized into 9 production complexes and more tan 100 distribution centers in Mexico and one production complex in the United States. It currently generates more than 34,000 direct jobs. Bachoco has the following ratings: «AAA (MEX)», the highest rating assigned by Fitch México, S.A. de C.V.; and «HR AAA», which means that the Issuer or the Issue is of the highest credit quality and was granted by HR Ratings de México, S.A. de C.V.
The document contains information that could be deemed forward-looking statements regarding expected future events and results of the Company. The statements reflect management’s current beliefs based on currently available information and are not guarantees of future performance and are based on our estimates and assumptions that are subject to risks and uncertainties, including those described in the Annual Information form, which could cause actual results to differ materially from the forward-looking statements contained herein. These risks and uncertainties include risks associated with ownership in the poultry industry, competition for investments in the poultry industry, shareholder liability, government regulation and environmental matters. Accordingly, there can be no assurance that actual results will be consistent with these forward-looking statements. Except as required by applicable law, Industrias Bachoco, S.A.B. de C.V. undertakes no obligation to publicly update or revise any forward-looking statements.