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Fredericks Michael & Co. represented Sigma Alimentos, S.A. de C.V. (Monterrey, Mexico) in the acquisition of the "Longmont" brand from Butterball, LLC (Raleigh, USA).
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Based in Monterrey, Mexico, Sigma Alimentos, S.A. de C.V is the leading producer and distributor of refrigerated and frozen foods in Mexico, and the food division subsidiary of conglomerate Grupo Alfa S.A.B. de C.V. Its product line includes cold cuts, cheese, yoghurt and ready meals, among others. The company sells its products in traditional corner stores and modern supermarkets
throughout Mexico, the Caribbean, Central America and the U.S. In 2007, Sigma reported sales of U.S. $2,068.- million. Currently, Sigma has over 27,000 employees.
"Longmont" is a highly reputable brand in the northwest region of Mexico, specifically in the states of Baja California, Sonora and Sinaloa where it is positioned as a leading brand. The business generates annual sales of over U.S. $ 20 million. A branded processed meats business, "Longmont" was owned by Butterball, LLC, the largest producer of turkey products in the United States and headquartered in Raleigh, N.C.
Mario Paez, Sigma's Chief Executive Officer, commented: "This acquisition is in line with our strategy to continue growing in the refrigerated cuts market in Mexico and in the U.S. Hispanic market, as well as strengthening our presence in attractive areas, such as the Northwest. Moreover, merging "Longmont's" high brand-awareness and product quality with our sales and distribution capabilities will further enhance our growth potential in the rest of the country. We are very pleased to have made this transaction. "
By acquiring the "Longmont" brand, Sigma Alimentos has acquired a strong and well-recognized name to complement its existing portfolio, thus consolidating its competitive position in the Mexican and U.S. markets.
This transaction follows Sigma's strategy of growing through acquisitions. Prior to Longmont, Sigma acquired several brands including Braedt, a leader in the Peruvian cold cuts market in July 2008 and the Wisconsin
