Ebro Foods has offloaded rice businesses in Puerto Rico and US Virgin Islands.
The Spain-based group said today (2 February) it had sold the assets for EUR12m (US$13.1m) to an Puerto Rico company called CC1 Grain, LLC. The units market rice under three brands – El Mago, Sello Rojo and Cinta Azul.
Ebro said the two markets “are not in keeping with the group’s strategy, which focuses on high-value products”.
On Friday, Ebro announced it had struck a deal to acquire French organic food group Celnat for EUR25.5m.
Ebro said the move reflects the growing emphasis it is placing on expanding in the organic sector. The deal will be completed through Ebro’s newly-created organic unit, Alimentation Santé.
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Celnat posted a turnover of EUR22m in 2015, 20% of which was generated in foreign markets.
Ebro made two acquisitions in last year, buying Roland Monterrat, a French supplier of fresh, ready-to-serve food, and snapping up US rice brand RiceSelect.
