CELAYA, MEXICO — Industrias Bachoco announced on March 25 that a current shareholder group is preparing a voluntary tender offer for the egg and pork production business. 

A statement by the company said the family of Robinson Bours told the board of directors that it is preparing an offer for 27% of Bachoco’s outstanding capital. 

The tender offer is expected to take place in the United States and Mexico with a purchase price of 81.66 Mexican pesos per share ($4.08). Bachoco said this was at a premium of about 20%.

Authorization from the board of directors and the Mexican and US Securities and Exchange Commission will be needed before the offer is accepted, along with other corporate and regulatory requirements. 

If the offer closes, the outstanding shares would need to be delisted from the New York Stock Exchange and the Bolsa Mexicana de Valores and the shares deregistered under the US Securities Exchange Act of 1934, as amended.

The company was founded in 1952 and became a public company in 1997. Bachoco owns and manages more than a thousand facilities, organized in nine production complexes and 80 distribution centers in Mexico, and a production complex in the United States.

The line of products from Bachoco includes chicken, eggs, feed, swine, turkey and beef value-added products. Currently, the company employs more than 29,000 people.