A leading Mexican wheat miller, Grupo Altex operates six mills with an annual processing capacity of approximately 800,000 tonnes. It produces a broad portfolio of products from many varieties of wheat including bread flour, prepared flours for baked goods, tortillas and pizza and semolina for pasta. These mills are well placed to serve Mexico’s key population centers and will complement Bunge’s existing wheat milling business, Harinera La Espiga, to provide nationwide coverage to key flour customers.
At the time of the initial announcement, Gordon Hardie, managing director, food & ingredients, Bunge Limited said, “This investment further strengthens our core food and ingredients segment by building on the consistent success of our North American milling business. Grupo Altex has an experienced team, efficient assets and an innovative product portfolio that will provide a solid platform for profitable growth in a compelling market.”
In addition to the mills, Bunge is acquiring Grupo Altex’s product brands and its innovation center.
“Grupo Altex shares Bunge’s approach of focusing on quality and service as we partner with some of the world’s most well-known food companies to protect the integrity of their products,” said Todd Bastean, president and chief executive officer, Bunge North America. “By leveraging our Mexico milling assets with our wheat origination capabilities in North America, we can provide customers with an efficient, reliable supply chain.”