St. Louis, MO — Bunge North America has announced that the company has reached an agreement to acquire a controlling interest in Mexican-based Grupo Minsa, a leading corn flour producer. The transaction is subject to approval of the Mexica Antitrust Commission, but it is expected to close in early 2017.
According to a company release, Bunge will take control of four mills in Mexico and two in the U.S. with a combined annual processing capacity of 700,000 metric tons per year. The mills produce a range of branded corn flours and pre-mixes for tortillas and other goods.
“This investment enhances Bunge’s position in milling, an important contributor to our global Food & Ingredients business,” said Soren Schroder, CEO, Bunge Ltd. in the release.
Bunge first entered the U.S. corn masa market in 2014 with the purchase of a mill in Indiana.
“This is a natural extension of our successful milling platforms in the U.S. and Mexico that will enable us to expand in a product line that is growing due to demographic and economic trends,” said Todd Bastean, CEO, Bunge North America in the release. “With more facilities, products, and capabilities, we’ll be able to provide a broader offering and enhanced services to our growing customer base, with more logistical and operational flexibility.”
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