NutraCea completes joint venture with Alothon

by World Grain Staff
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SCOTTSDALE, ARIZONA, U.S. — NutraCea announced on Jan. 21 that on Jan. 18, AF Bran Holding LLC closed on the previously announced purchase of an ownership interest in Nutra SA, LLC, the 100% owner of Industria Riograndese De Oleos Vegetais Ltda., (Irgovel).

Ettore V. Biagioni, managing partner of Alothon Group, the private equity firm that manages AF Bran Holding, said, "We are enthused to participate in the significant growth opportunity of the SRB and RBO space in Brazil as well as the rest of the world and particularly pleased to join the NutraCea and Irgovel management which is a leader in the industry."

W. John Short, chairman and chief executive officer of NutraCea, said, "We are pleased to have completed this transaction and look forward to working with the Alothon team to build Irgovel into a globally competitive, state-of-the-art rice bran oil bio-refinery."
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