Gruma: acquires Casa de Oro Foods

Monterrey / MX. (dj) Mexican corn flour and tortilla maker Gruma S.A.B. de C.V. announced the acquisition of the tortilla plant of Casa de Oro Foods LLC, located in the United States, for 20 million USD. Based in Omaha, Nebraska, Casa de Oro manufactures wheat flour tortillas and tortilla meal kits. The company focuses mainly on the foodservice and co-pack sectors through one plant that employs 250 people. Casa de Oro´s strategic location will improve and increase Gruma´s coverage in the Midwest region while reducing transportation costs. Through this acquisition, Gruma will also be able to increase its production of corn tortillas and corn chips, therefore strengthening the supply of fresher products throughout the region. During 2010, Casa de Oro´s net sales totalled approximately 29 million USD. This acquisition will expand and strengthen Gruma´s tortilla business in the United States and is part of a strategy to take advantage of opportunities and synergies in the United States, the most important market in the world for Gruma today.