General Mills has sold La Saltena for an undisclosed sum

General Mills has sold La Saltena for an undisclosed sum

Molinos Rio de la Plata, an Argentinian food company owned by the Perez Group, has acquired a local dough making business from General Mills in the US.

La Saltena has been purchased from the US food giant for an undisclosed sum. The company makes a traditional Argentine dough used in pastry products such as meat pies and the local delicacy Empanadas, as well as fresh pasta.

Molinos said in a statement it expects to close the deal by the end of January and will seek to expand La Saltena's business reach to make it a household name across Argentina.

La Saltena's manufacturing plant is located in the town of Burzaco in Buenos Aires province. It employs 500 people.

Molinos said the purchase of La Saltena is part of its strategy for growth having invested US$100m in the past two years to expand its existing facilities in the country, including new production lines for gluten-free noodles and Gallo wafer snacks.