HOUSTON — Riviana Foods Inc., a subsidiary of Madrid, Spain-based Ebro Foods S.A., has agreed to acquire the belongings of InHarvest, Inc. for about $48.75 million.
Headquartered in Bemidji, Minn., with two manufacturing amenities in Colusa and Woodland, Calif., InHarvest specializes within the manufacturing, advertising and sale of premium specialty rice, quinoa and grains for the foodservice, industrial and retail sectors. The firm’s California operations are strategically situated within the rice-growing space of the Western United States.
InHarvest employs roughly 140 and generated gross sales of roughly $50.3 million in 2020.
“The acquisition of the InHarvest business is an excellent fit and consistent with our strategic plan to expand our position in the specialty value-added rice, quinoa and grains markets,” stated Enrique Zaragoza, president and chief government officer of Riviana. “We are excited about this expansion as we also look forward to welcoming InHarvest’s employees to the Riviana team.”
Riviana Foods’ father or mother Ebro Foods cited 4 the reason why the acquisition is “of considerable strategic interest.” First, InHarvest can be straightforward to combine inside the Riviana enterprise, Ebro stated. Second, the availability chain, plant community and packaging and manufacturing capability of the Ebro Group within the United States can be improved. Third, the addition of InHarvest would offer entry to enterprise platforms on which Riviana doesn’t at the moment have a major presence, together with foodservice and the army channel, Ebro stated. Finally, the value-added items produced by InHarvest can be included inside Riviana’s product portfolio.