Ebro Foods Enters Retail Flour and Premium Ingredients Market by Taking Majority Stake in Santa Rita Harinas
14 Jul 2016 --- Spanish food giant Ebro Foods has acquired a majority stake in Spanish flour and premium ingredients company Santa Rita Harinas for €4.8m ($5.3m).
The pasta giant has acquired a 52 percent stake in Santa Rita Harinas, marking its entrance into the retail flour and high-end ingredients market.
Santa Rita Harinas specializes in high-end ingredients and flours, such as chestnut flours and dry onions.
Ebro said: "Santa Rita is a company dedicated to the production and marketing of flours and preparations for cooking, which supported a strong R&D and innovation has managed to lead the premium segment of packaged flours."
Ebro said the investment in the company indicates its willingness to grow by investing in fast-growing domestic companies.
Santa Rita Harinas currently runs a manufacturing plant in Loranca de Tajuña, employing 15 people.
Ebro, which makes around €2 billion ($2.2bn) in sales a year, said it hopes to help internationalise the Santa Rita Harinas business.
To contact our editorial team please email us at editorial@cnsmedia.com
If you found this article valuable, you may wish to receive our newsletters.
Subscribe now to receive the latest news directly into your inbox.
Subscribe now to receive the latest news directly into your inbox.
