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.
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