GRUMA acquires Australian tortilla company
Rositas, with annual sales of approximately $22 million, manufactures tortillas primarily in the institutional segment, but also sells through retail chains.
01/02/06 Mexico, GRUMA has acquired Rositas Investments PTY LTD, a company that manufactures tortillas in Australia; the closing of this acquisition was Friday, January 27, 2006. The purchase price was $17.6 million Australian dollars, or approximately $13.3 million U.S. dollars.
Rositas, with annual sales of approximately $22 million, manufactures tortillas primarily in the institutional segment, but also sells through retail chains. Its products are sold under the "Rositas" brand name, which has great acceptance with the Australian consumers.
Juan Gonzalez Moreno, President of GRUMA's Asia and Oceania division, stated, "With this acquisition, GRUMA reinforces its presence in the international markets and, together with its next tortilla plant in China, it will be better suited to supply the Asia and Oceania markets."
