Spanish food manufacturer Ebro Puleva is planning to sell some of the non-core assets of US rice company Riviana as part of its strategic acquisition of the company.
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just-food reported on Friday that Ebro Puleva is buying Riviana Foods for approximately US$380m. Ebro Puleva will make an all-cash tender offer for all the outstanding shares of Riviana common stock for $25.75 per share.
According to a report from Cinco Días in Madrid, the assets to be sold include oil well and rice fields in Latin America.
Ebro Puleva is known to have a war chest of some €500m (US$607.7m) and be hunting further acquisitions.
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