Gruma/ADM joint venture acquires Mexico wheat mill
March 01, 2000
by Stormy Wylie
MONTERREY, MEXICO — Molinera de Mexico, a wheat flour milling joint venture between Gruma S.A. de C.V. and ADM Milling Co., in January completed the acquisition of Industrial Harinera la Asuncion S.A. de C.V. in Puebla, Mexico. The purchase price was approximately U.S.$48 million.
The Puebla mill was described as "one of the largest and most efficient wheat flour mills in Latin America." According to the "Grain & Milling Annual 2000," published by Sosland Publishing Co., the mill has daily wheat flour production capacity of 1,050 tonnes. Its principal brands are Reposada, Aguila, Azteca and Asuncion.
"With this acquisition, Molinera de Mexico strengthens its leadership position in the wheat flour industry, reaching a nationwide market share of approximately 23%," Gruma said.
Gruma, based in Monterrey, is the world's largest corn flour miller. ADM Milling, based in Leawood, Kansas, U.S., is the largest wheat flour miller in the United States.