AUSTRALIA: Mexican bakery Gruma buys Rositas Investments
Gruma, the world's largest maize flower producer with operations in the US, Europe and South America, has acquired Australian tortilla manufacturer Rositas Investments. The purchase of Rositas cost Gruma AUS$17.6m (US$13.26).
Rositas Investments, which markets tortillas under the Rositas brand, has registered average annual sales of approximately AUS$22m, the company said.
The purchase, South American reports suggest, is part of Gruma's recent strategy to expand its presence overseas. Plans are in place for Gruma to open a plant in China, Juan Gonzalez Moreno, president of the company's Asia-Oceania division told reporters.
- Danone's Q1: four things to learn
- Nestle Q1 update: four things to learn
- Column: Why snacking is the new meal
- Who will buy Danone's Stonyfield business?
- Interview: KP Snacks on growth strategy
- Tyson shops Sara Lee bakery, Kettle and Van's
- Nestle to cut UK confectionery jobs
- Tyson to buy burger-to-entree firm AdvancePierre
- PepsiCo affirms full-year target as Q1 hits mark
- TreeHouse Foods sells soup, baby food units