29 Jul Atlas Advisors acted as advisor to Herdez del Fuerte in the divestiture of its tuna business
Mexico City, Mexico – Grupo Herdez, S.A.B. de C.V. (“Grupo Herdez” or the “Company”)
(BMV: HERDEZ) today announced that its associated company, Herdez Del Fuerte, has finalized several agreements for the partial divestiture of its tuna assets. Under these agreements, Grupo Herdez and its associate are selling their tuna vessels and fishing equipment, the tuna processing and packaging plant located in Chiapas, as well as rights to the “Nair” brand.
However, Grupo Herdez and its associate will continue participating in the distribution and sale of tuna products under the “Herdez” brand, which will be produced by a third party.
The Nair brand represented 1.4% of consolidated net sales of the Company at the end of 2019. As of June 30, 2020, the Company had already recognized in its financial statements 70% of the income generated from these transactions, and expects to conclude the rest in the remainder of the year.