Today, Mexico’s Economy Minister Marcelo Ebrard announced that poultry producer Pilgrim’s plans to invest $1.3 billion in the country over the next five years, calling it “a very important investment for Mexico.”
The investment will allow Mexico to reduce its current chicken imports by 35%, and will generate over 4,000 jobs, the minister stated.
Pilgrim’s recently stated that in Mexico, their branded products in both Fresh and Prepared Foods are continuing to grow. They’ve also been strengthening valued partnerships with key customers across various retail outlets.
Fabio Sandri, Pilgrim’s President and CEO stated, “Our expansion efforts in Mexico continue to proceed as planned, which will ultimately strengthen our partnerships with Key Customers and further diversify our portfolio through Prepared Foods.”
Pilgrim’s stock fell around 2% following the announcement.
By CEO NA Editorial Staff
