Mexican poultry company Industrias Bachoco has reached an agreement to invest in multiprotein processor and distributor RYC Alimentos (RYC).

Financial details of the investment have not been disclosed by the companies.

Established in 1983, RYC is a meat processing and distribution company with operations in Puebla, Mexico.

The company is engaged in the distribution of beef, pork, and chicken, with national coverage enabling the company to participate in all distribution channels with fresh and value-added products.

With a workforce of 900 employees, RYC is said to be one of the key companies in this field.

Industrias Bachoco CEO Rodolfo Ramos said: “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 Mexican antitrust authorities, COFECE, will properly review this business agreement. Therefore, once authorised, more details of the transaction will be given.

“We expect to integrate this transaction as soon as possible and capture the opportunities we have identified.”

Headquartered in Celaya, Guanajuato, Industrias Bachoco is a major global poultry producers.

Its main business lines are in chicken, eggs, balanced feed, swine and other products.

The company currently owns and manages more than a thousand facilities in Mexico. as well as a production complex in the US, and has a workforce of more than 28,000 people.

In February 2016, Bachoco’s subsidiary OK Foods, which has operations in Arkansas and Oklahoma, the US, acquired American Foods Group for $8m.

American Foods’ facility in Oklahoma has the capacity to produce more than 700,000lb of fully cooked chicken products every week.