Ebro Puleva’s EUR284m (US$ 358.97m) acquisition of pasta maker New World Pasta will boost the revenues of its US division to EUR613m this year from EUR300m in 2005, a company spokesperson confirmed to just-food today (8 June).
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Moreover, Madrid-based Ebro will take a break from its recent acquisition spree and refrain from any new purchases in the near future, the spokesperson added.
Because of the acquisition, Ebro will finish 2006 with debt of about EUR1bn, up from EUR841 last year, the spokesperson noted, adding that liabilities could be lower if it pursues a strategy to sell non-core assets.
After snapping up New World, Ebro said it will become the world’s second-largest pasta maker after archrival Italy’s Barilla. It will have a 29% and 41% respective market share in the US and Canada, the spokesperson said.
New World, which emerged from bankruptcy last December, is expected to contribute EUR313m to Ebro’s turnover in 2006.
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