Grupo Herdez, S.A.B. de C.V. (BMV:HERDEZ *) is looking for M&A. A Company Executive said, "We have conquered mid-single-digit market share and have good traction to expand our distribution next year. In the quarter, we saw good signs of working capital improvements. Half of our free cash flow came from these efforts, and we expect more to come in the following quarters.
Maintenance CapEx for this year will be lower than guided, but we expect to execute small M&A that will fill the gap".
Grupo Herdez SAB de CV is a Mexico-based company engaged in the food processing sector. The Company's activities are divided into two business segments: Food and Frozen. The Food division focuses on the manufacture and distribution of canned and packed food products in Mexico and the United States. Its offer includes burritos, canned vegetables, guacamole, home-style salsa, honey, jam, ketchup, mayonnaise, mole, mustard, organic food, pasta, spices, tea, tomato puree and tuna, among others. It sells products through a number of brand names, such as Aires de Campo, Barilla, Bufalo, Chi-Chi's, Del Fuerte, Don Miguel, Dona Maria, Embasa, Herdez, La Victoria, McCormick, Wholly Guacamole and Yemina. In addition, it has distribution agreements in Mexico for GoGoSqueez, Kikkoman, Ocean Spray, Reynolds and Truvia products. The Frozen division is responsible for the manufacture and distribution of frozen yogurts and ice creams under the Nutrisa and Helados Nestle brand names.
GRUPO HERDEZ, S.A.B. DE C.V. 
