Rica Foods pays fine and leaves AMEX

The Costa Rican company has agreed for the Stock Exchange Commission to revoke its registration, resolving an accusation of financial fraud.

Friday, January 9, 2009


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In the elNuevoHerald.com it is reported that "Rica Foods, a poultry processor and feed producer based in Miami, and its former executive director resolved the case of financial fraud presented by the Stock Exchange Commission (SEC). "..."This case arose four years ago when Rica Foods, umbrella company for Pipasa, As de Oros and other poultry companies, was own by Costa Rican businessman Calixto Chaves."

More on this topic

Arrival of Cargill Reactivates Costa Rican market

June 2011

The entry of the U.S. firm has brought new investment by competitors.

Since announcing the purchase of Pipasa by Cargill, the Costa Rican poultry market has not stopped moving.

Investment in new plants and rethinking strategies, among others, are some of the actions that companies are beginning to take to cope with expected changes in the market.

Multinational Cargill Buys Pipasa

June 2011

The U.S. company and owner in Costa Rica of Cinta Azul has completed the purchase of Corporación Pipasa.

Bruce Burdett, president of Cargill Meats Central America, said in consultation with the newspaper La Nación, "We had plans to expand in the region and Pipasa has been one of our most saught after targets."

Pipasa negotiating to buy Nicaraguan company for $24 million

June 2008

The Costa Rican company Pipasa, owned by Rica Foods, has signed a non-binding letter of intent to buy Industrias Avícolas Integradas S.A. (Indavinsa) of Nicaragua.

Indavinsa is a producer of poultry products and poultry feed concentrates. It has 17 farms and nine distribution centers.

Investment in Poultry Sector in Costa Rica

July 2014

Increased competition and rising production costs are causing firms in the sector to revive their production processes with new plants, equipment and electrical systems.

The three companies which dominate 92% of the market for chicken meat and its derivatives are making significant investments to modernize their production processes in an increasingly competitive world where consumption has maintained a steady upward trend.

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