ST. LOUIS, Jan. 30, 2018 /PRNewswire/ -- Bunge North America, the North American
operating arm of Bunge Limited (NYSE: BG), announced that it
has purchased Minsa Corporation, a wholly-owned U.S. subsidiary of
Grupo Minsa S.A.B. de C.V., valued at $75
million. The acquisition includes corn flour mills in
Red Oak, Iowa and Muleshoe, Texas.
Corn masa, the primary ingredient for tortillas, tortilla chips,
and other foods, is a key growth category in packaged food and food
service channels, with sales projected to steadily increase.
"This acquisition is an important strategic step to strengthen
our Food & Ingredients business in the U.S., and could provide
additional growth opportunities for the company's other regions,"
said Todd Bastean, president
Bunge North America. "These assets,
together with our existing plant in Worthington, Indiana, make Bunge a leading
U.S. producer of corn masa, a product that is experiencing
significant growth not only here, but around the globe."
The acquisition creates scale in Bunge's masa milling capacity
and brings additional products and capabilities including specialty
products such as organic and non-GMO masa and on-trend colors such
as blue and red corn. In addition to traditional bulk, tote
and 50 pound bags used by food manufacturers and food service
customers, both the Iowa and
Texas locations can produce one
kilo/2.2 pound packages commonly sold by retailers under their own
store brands.
"With additional locations throughout the U.S., we will be
better able to provide customers with a high-quality, reliable
supply of products nationwide," said Daniel
Maldonado, managing director, Bunge Milling. "We look
forward to partnering with customers to help build their brands and
using our strong innovation capabilities to further support them in
meeting evolving consumer needs with an on-trend portfolio."
In addition to a full line of masa products, Bunge's portfolio
of shortenings and oils makes it the only major supplier of all key
ingredients used to manufacture tortillas and related
products. For more information about Bunge's product
offerings, visit www.bungecreativesolutions.com.
Bunge was advised by Rothschild & Co. on the
transaction.
About Bunge North
America
Bunge North
America (www.bungenorthamerica.com), the North American
operating arm of Bunge Limited (NYSE: BG), is a vertically
integrated food and feed ingredient company, supplying raw and
processed agricultural commodities and specialized food ingredients
to a wide range of customers in the animal feed, food processor,
foodservice and bakery industries. With headquarters in
St. Louis, Missouri, Bunge North America and its subsidiaries operate
grain elevators, oilseed processing plants, edible oil refineries
and packaging facilities, and corn, wheat and rice mills in the
U.S., Canada and Mexico.
About Bunge Limited
Bunge Limited (www.bunge.com,
NYSE: BG) is a leading global agribusiness and food company
operating in over 40 countries with approximately 32,000 employees.
Bunge buys, sells, stores and transports oilseeds and grains to
serve customers worldwide; processes oilseeds to make protein meal
for animal feed and edible oil products for commercial customers
and consumers; produces sugar and ethanol from sugarcane; mills
wheat, corn and rice to make ingredients used by food companies;
and sells fertilizer in South
America. Founded in 1818, the company is headquartered in
White Plains, New York.
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains both historical and
forward-looking statements. All statements, other than statements
of historical fact are, or may be deemed to be, forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements are not based
on historical facts, but rather reflect our current expectations
and projections about our future results, performance, prospects
and opportunities. We have tried to identify these forward-looking
statements by using words including "may," "will," "should,"
"could," "expect," "anticipate," "believe," "plan," "intend,"
"estimate," "continue" and similar expressions. These
forward-looking statements are subject to a number of risks,
uncertainties and other factors that could cause our actual
results, performance, prospects or opportunities to differ
materially from those expressed in, or implied by, these
forward-looking statements. The following important factors, among
others, could affect our business and financial performance:
industry conditions, including fluctuations in supply, demand and
prices for agricultural commodities and other raw materials and
products used in our business; fluctuations in energy and freight
costs and competitive developments in our industries; the effects
of weather conditions and the outbreak of crop and animal disease
on our business; global and regional agricultural, economic,
financial and commodities market, political, social and health
conditions; the outcome of pending regulatory and legal
proceedings; our ability to complete, integrate and benefit from
acquisitions, dispositions, joint ventures and strategic alliances;
our ability to achieve the efficiencies, savings and other benefits
anticipated from our cost reduction, margin improvement and other
business optimization initiatives; changes in government policies,
laws and regulations affecting our business, including agricultural
and trade policies, tax regulations and biofuels legislation; and
other factors affecting our business generally. The forward-looking
statements included in this release are made only as of the date of
this release, and except as otherwise required by federal
securities law, we do not have any obligation to publicly update or
revise any forward-looking statements to reflect subsequent events
or circumstances.
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SOURCE Bunge North America