Spanish food giant Ebro Foods has acquired a majority stake in Spanish flour and premium ingredients company Santa Rita Harinas for €4.8m ($5.3m).
The pasta giant has acquired a 52 percent stake in Santa Rita Harinas, marking its entrance into the retail flour and highend ingredients market.
Santa Rita Harinas specializes in highend ingredients and flours, such as chestnut flours and dry onions.
Ebro said: “Santa Rita is a company dedicated to the production and marketing of flours and preparations for cooking, which supported a strong R&D and innovation has managed to lead the premium segment of packaged flours.”
Ebro said the investment in the company indicates its willingness to grow by investing in fastgrowing domestic companies.
Santa Rita Harinas currently runs a manufacturing plant in Loranca de Tajuña, employing 15 people.
Ebro, which makes around €2 billion ($2.2bn) in sales a year, said it hopes to help internationalise the Santa Rita Harinas business.
Source: Food Ingredients First
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