Spanish rice manufacturer Ebro Foods has announced the acquisition of US rice brand RiceSelect.
The deal sees Ebro buy the US consumer rice business division of RiceTec AG and RiceTec Inc, which manufactures and markets products under the RiceSelect brand.
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The acquisition is valued at US$45m and includes the assets of the business including a plant in Alvin, Texas, and its 42 workers.
RiceSelect is said by Ebro to be the "leading business in the US retail market" for aromatic rices, ancient grains, quinoa and other super cereals. It posted a US$31.1m turnover in 2014.
RiceSelect will become part of Ebro's Riviana portfolio in the US.
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