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Food & Beverage

Mexico-based Firm Buys OK Industries of Fort Smith

November 01, 2011
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The Associated Press reports, Fort Smith-based chicken company O.K. Industries Inc. announced that it is being purchased by the leading poultry firm in Mexico. Privately-held O.K. Industries and its subsidiary, O.K. Foods, employ about 4,000 people at poultry plants in western Arkansas and Oklahoma. The buyer, Celaya, Mexico-based Industrias Bachoco S.A.B. de C.V., has about $2 billion in annual sales, compared to $600 million for O.K. Industries, a 78-year-old family-run business. Terms of the purchase were not disclosed. The transaction takes place immediately, pending regulatory approval. There was no indication of any planned job cuts in the announcement.

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