Bunge to Buy Mexican Wheat Mills

Agribusiness giant Bunge (NYSE: BG  ) announced today that its North American division would be buying Grupo Altex's six Mexican wheat mills that have an annual processing capacity of approximately 800,000 metric tons. 

Grupo Altex produces a broad portfolio of wheat products that are used in the preparation of bread flour, prepared flours for baked goods, tortillas, and pizza, as well as semolina for pasta, and will complement Bunge's own wheat milling business, Harinera La Espiga, to provide nationwide coverage to key flour customers. Bunge will also acquire Grupo Altex's product brands and innovation center.

Noting the companies' shared goals, Bunge North American President and CEO Todd Bastean said, "By leveraging our Mexico milling assets with our wheat origination capabilities in North America, we can provide customers with an efficient, reliable supply chain."

The purchase is expected to close by the end of the year subject to regulatory approval and customary closing conditions. Financial terms were not disclosed.


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2696183, ~/Articles/ArticleHandler.aspx, 10/25/2014 7:15:58 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement