Spanish Ebro Foods has acquired a controlling stake in flour producer and retailer Santa Rita Harinas for €4.8m ($5.34m).
In a statement to Spain’s National Securities Market Commission (CNMV), Ebro said that it has bought 52% stake in Santa Rita.
The acquisition marks Ebro’s entry into the retail flour and premium cooking ingredients market.
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.”
Santa Rita currently has a production plant in Loranca de Tajuña (Guadalajara), employing 15 people.
Ebro said that the acquisition reflects its interest in invest in Spanish firms having high growth potential.
In June, Ebro increased its stake in Italian rice company Riso Scotti to 40% from 25%, as part of its global expansion plans.
The Madrid-headquartered Ebro bought the additional 15% stake in Riso Scotti for €13.5m ($15m).
Riso Scotti is engaged in the production and processing of rice with a presence in more than 60 countries.
In February 2013, Ebro agreed to buy 25% stake in Riso Scotti for €18m ($20m).
Ebro also acquired US specialty rice business RiceSelect for $45m in June 2015, through its local unit Riviana Foods.
The acquisition included RiceSelect brand and other assets of the business, including a production plant in Alvin, Texas.
Ebro Foods operates in rice, pasta, and sauces sectors in Spain and internationally.
The company offers rice, rice supplies, and rice-based products or ingredients under the SOS, La Fallera, La Cigala, Saludades, Lassie, Reis fit, Rix fix, Oryza, Bosto, Riceland, Risella, Peacock, Phoenix, El Mago, and Sello Rojo brands.
