Acquisition of Fresherized Foods Highlights Mexico's Agribusiness Potential

On August 22, 2011, MegaMex Foods LLC, a joint venture between Hormel Foods Corporation and the Mexican group Herdez, closed a transaction to acquire 100% of Fresherized Foods. Fresherized Foods operates a primary processing plant in Mexico, employing several hundred employees in Sabinas, Coahuila, and additional plants in Peru and Chile, which are supplied by avocado growers in all three countries. Fresherized Foods is the pioneer in utilizing processing techniques that have revolutionized the food manufacturing industry and currently produces Wholly Guacamole® and Wholly Salsa®, among other products. "This acquisition enhances the position of MegaMex Foods as a one-stop-shop for Mexican foods," said Enrique Hernández-Pons Torres, chairman of the board of MegaMex Foods. The acquisition underscores Mexico's growing position as a leading producer and exporter of agricultural products. A recent report by the Food and Agriculture Organization of the United Nations indicates that Mexico is ranked 11th as a producer of agricultural and fish products per capita, with 632 kg produced per capita, and the 12th ranked producer by overall production volume.

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