Spanish food firm Ebro Puleva has said it has agreed to purchase two frozen food companies, Danrice and Danpasta, for €18.7m (US$22.6m) from their Danish parent company Danrice.
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Puleva said that after the takeover, rice producers in Spain would replace US producers as the main suppliers for the Danrice unit, reported Reuters.
Danrice and Danpasta are together expected to post 2003 revenues of €15m and a net profit of €1.7m.
