Grupo Herdez reported that its associate Herdez Del Fuerte entered into various agreements for the partial divestiture of its tuna business.
Under these agreements, Grupo Herdez and its associate are selling their tuna fishing vessels and related equipment, their processing and packaging plant for tuna products located in Chiapas, as well as the rights to the “Nair” brand.
The tuna plant, located in Puerto Chiapas, in the state of Chiapas, Mexico, began operations in 1997, produces tuna, fish oil and protein meals, has an annual installed capacity of 22,240 tons and its capacity used last year was of 56 percent.
On the other hand, Grupo Herdez and its associate will remain in the distribution and commercialization of tuna-based products under the “Herdez” brand, which will be manufactured by third parties.
The Nair brand represented 1.4% of the Group’s consolidated net sales in 2019. At the end of June 2020, the company had recognized 70% of the income derived from these transactions in its financial results and expects to conclude the remainder in the course of 2020 .
Grupo Herdez and KUO
Grupo KUO informs that the JV Herdez Del Fuerte has concluded various agreements for the partial divestiture of its tuna business.
Under these agreements, they are selling their tuna fishing vessels and related equipment, their processing and packaging plant for tuna products located in Chiapas, as well as the rights to the “Nair” brand.
On the other hand, the JV Herdez Del Fuerte will continue with the distribution and commercialization of tuna-based products under the “Herdez” brand, which will be manufactured by third parties.
KUO also said that its subsidiary JV Herdez Del Fuerte will continue with the distribution and commercialization of tuna-based products under the Herdez brand.
During the second quarter of 2020, that subsidiary continued the second phase of the divestment process of the tuna business, recording a positive effect on cash flow of 144 million pesos.
Diversified company
Grupo Herdez is a leader in the processed food sector and one of the main players in the ice cream category in Mexico, as well as the fastest growing company in the Mexican food category in the United States.
The company participates in a wide range of categories, which includes homemade sauces, organic products, honey, ice cream, jams, mayonnaise, mole, mustard, pasta, spices, tea, tomato puree, tuna, among others.
These products are marketed through an exceptional portfolio of brands, including: Aires de Campo, Barilla, Blasón, Búfalo, Cielito Querido Café, Del Fuerte, Doña María, Embasa, Helados Nestlé®, Herdez, McCormick, Moyo, Nutrisa, Wholly Guacamole and Yemina.
Additionally, the company has agreements for the distribution in Mexico of Frank’s, French’s, Kikkoman, Ocean Spray and Reynolds products. Grupo Herdez has 14 production plants, 25 distribution centers, more than 600 points of sale with the Cielito Querido Café, Lavazza, Moyo and Nutrisa brands, as well as a workforce that exceeds 10,000 employees.
