10 Dec Strategic Alliance between Grupo Herdez and Grupo KUO
Excerpt of press release by Grupo Herdez
Grupo Herdez S.A.B. de C.V. signed an agreement for the creation of a strategic alliance with Grupo KUO S.A.B. de C.V. With the establishment of this alliance (joint venture), a leading Mexican company will be created under the name HerdezdelFuerte S.A. de C.V. which will be effective on January 1, 2008.
This transaction has obtained the approval of the respective Board of Directors of both companies and the required approval of the Anti-Trust Commission. With this joint venture a Mexican company will be created in the food sector, with annual sales of approximately $500 million in the domestic and North American market. Likewise, both companies will significantly strengthen their involved brands, generating greater shareholder value through synergies that will benefit both, clients and consumers, developing new products in line with market trends, integrating the experience of Grupo HERDEZ and Grupo KUO in this sector.
Atlas Advisors acted as exclusive financial advisor to both Grupo KUO and Grupo Herdezin connection with this transaction.
Atlas Advisors is the marketing name for Atlas Advisors, LLC and Atlas Strategic Advisors, LLC. Atlas Strategic Advisors, LLC provides financial advisory services in connection with mergers, acquisitions and other similar transactions. Atlas Strategic Advisors, LLC is a wholly owned subsidiary of Atlas Advisors, LLC and a member of the FINRA.
None of the information contained in this release constitutes a recommendation, solicitation or offer by Atlas Strategic Advisors, LLC or its affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service.