US-based rice processor NutraCea is to buy a rice bran oil production plant in Brazil.
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The transaction, which is expected to close before the end of the month, will see the company secure arrangements for the supply of raw rice bran with several local mills producing 70,000 tons a year.
NutraCea said the acquisition would allow the company to enter the edible oils market in South America. The company added that the deal would also give it a platform to introduce new products.
“The establishment of our facilities in the major, rice-growing regions around the world is essential to our long-term, strategic growth plan,” said NutraCea president and CEO Brad Edson.
“We believe our Brazilian facility will provide NutraCea with the opportunity for increasing revenues going forward, not just for stabilized rice bran, but also for healthful edible oils and value-added products derived from the rice bran and oil.”
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