SPAIN: Ebro Foods denies interest in Glencore pasta business
Ebro said it is not interested in Dakota Growers pasta
Ebro Foods said it has no interest in acquiring Dakota Growers Pasta from Glencore Xstrata following reports linking the Spanish company to the US business.
Anglo-Swiss commodity trader Glencore Xstrata is understood to be looking to sell its pasta business as it continues to divest assets acquired from its $6bn acquisition of Viterra last year, sources told Reuters this week.
The publication said Glencore is working with Barclays to sell the Minnestota-based business in a deal which could value the company at $300m to $400m.
A spokesperson for Glencore declined to comment on whether it was looking to sell the business, but a Reuters report yesterday said Spanish food group Ebro Foods was planning to acquire the company.
A spokesperson for Ebro, however, told just food: "It is completely false. Ebro is not interested in Dakota Growers and has not made any offer for this company."
The reports also suggested Dakota Growers is likely to draw interest from ConAgra Foods, although the company did not return a request for comment at the time of going to press.
Ebro Foods is to pay over EUR4m (US$5.4m) to manufacturers including Nestle for fixing the price of sugar in Spain in the 1990s....
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