Bunge North America Buys Corn Masa Flour Mill
Financial terms of the transaction have not been disclosed
Financial terms of the transaction have not been disclosed.
Corn Flour Producers operates one plant in Worthington, Indiana, which has a production capacity of 32,000 metric tons of corn masa flour annually. It mills a wide variety of premium corn masa flours used in the production of tortillas and corn chips.
Bunge Milling general manager Wade Ellis said with this purchase, Bunge enters an attractive growth market that enables us to offer a broader product portfolio to our customers.
"We will be able to develop new products and innovations to meet customer and consumer demands while adding complementary production capabilities to our current U.S. corn dry milling and rice milling operations," Ellis added.
The company expects to retain most of the employees currently working at the plant.
Bunge North America is a vertically integrated food and feed ingredients company, supplying raw and processed agricultural commodities and specialized food ingredients to poultry, food processing, foodservice and bakery industries.
Copyright 2014 Progressive Media Group LimitedAll Rights Reserved