US rice processor Riviana Foods has announced that it has closed the transaction with its European joint venture partner, Spanish food group Ebro Puleva, that creates a new UK joint venture.
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The new venture combines Riviana’s UK subsidiary, Stevens & Brotherton (S&B), with Ebro Puleva’s subsidiary, Joseph Heap & Sons.
S&B markets and distributes branded and private label rice, dried fruit and other food products in the UK. Heap is a major supplier of rice flour and bulk rice to industrial customers and also offers the Peacock rice brand to ethnic foodservice markets.
The joint venture company will be owned 51% by Ebro Puleva and 49% by Riviana.
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By GlobalData
