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Grupo Herdez updates on tax issues

/ Investors / By

Mexico City, November 18, 2022 – Grupo Herdez, S.A.B. de C.V. (“Grupo Herdez” or the “Company”) (BMV: HERDEZ) informs:

  1. In the third quarter report of October 19, 2022, the company informed about tax assessments determined to Nutrisa, S.A. de C.V. for the fiscal year of 2017, related to a change in the interpretation of the law by the tax authority concerning the application of the 0% rate of the Value Added Tax in the sale of yogurt ice creams and popsicles.
  2. In this regard, the Servicio de Administración Tributaria (“SAT” “Tax Administration Service”) confirmed the tax assessments through official resolutions dated October 26, 2022, and notified on November 4, 2022. The amount involved is MXN 436.8 million.
  3. Once we analyzed such resolutions and prior consultation with our advisors, the Company considers that the 0% rate of the Value Added Tax shall be the rate applicable to yogurt ice creams and popsicles, as they are frozen food.
  4. Since this is a change of interpretation and application of the law by SAT, the Company filed a Juicio de Resolución Exclusiva de Fondo (“Trial”) before the Tribunal Federal de Justicia Administrativa (“Federal Court of Administrative Justice”).
  5. This trial grants the benefit that no guaranty of such tax assessment amounts is required in accordance with applicable law.
  6. The Company continues its defense against the previous resolutions, since it considers that there are reasonable and sufficient arguments to demonstrate that the liquidation for 2014, 2015 and 2016 fiscal years are improper, and therefore, it has fully complied with its VAT tax obligations.
  7. The Company reaffirms its commitment with the application of the Law and has properly complied with its tax obligations.
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    Grupo Herdez 2019

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    2020

    2020

    • 2020: We became the first consumer company in Latin America to partner with Google, a global technology giant, to accelerate our digital transformation. In collaboration with La Costeña® and Sanfer®, we delivered 35,000 basic food baskets to benefit more than 175,000 Mexicans affected by the COVID-19 health contingency.

      We launched the first edition of Semillero Nutrisa®, a program to support Mexican women entrepreneurs to participate in a training and business development program.

    • 2021: We signed an agreement with the American company General Mills® to distribute their products in Mexico, with which we entered the categories of cereal bars and prepared dessert flours.

      We celebrated the 80th anniversary of Doña María® mole with the inauguration of Casa Doña María Pons, headquarters of Fundación Herdez® in San Luis Potosí.

      We were placed in the report “Mexican Companies for the 2030 Agenda in the Decade of Action” of the Global Compact, for the actions of the Saber Nutrir® program as a reference practice to achieve Zero Hunger, one of the 17 Sustainable Development Goals of the UN.

    • 2022: We acquired Interdeli and Deli, Dips & Snacks, expanding our capabilities to new categories such as hummus, cheeses, and dips, integrating brands such as Libanius, Flaveur, Liguria, and Señor Cactus into our portfolio.

      For the first time in our history, we brought the best of Mexican cuisine to the United Kingdom with the Herdez® brand, through a joint alliance with McCormick & Company, Inc.

      We issued the first sustainability-linked bond in the food industry in Mexico, committing to reduce our water consumption per ton produced by 2030.

      We signed the United Nations Women’s Empowerment Principles (WEPS), reaffirming our commitment to gender equality.

      We joined the UN’s CFO Coalition for the SDGs, which drives the transformation of corporate finance to achieve the goals of the 2030 Agenda.

      We joined the Pacto por la Comida of the BAMX Network, an initiative that promotes more sustainable food production and consumption systems, with the goal of reducing Food Loss and Waste in the industry.

    • 2023: We consolidated the integration of Chilim Balam® into the Impulse segment portfolio, with which we positioned ourselves in the candy and snack category in the retail model.
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