Gruma: acquires leading tortilla manufacturer in Russia

Monterrey / MX. (dj) Mexican corn flour and tortilla maker Gruma S.A.B. de C.V. announced the acquisition of Solntse Mexico, the leading tortilla manufacturer in Russia, for seven million USD. Based in Russia, Solntse Mexico is a tortilla company that manufactures and sells mainly wheat flour tortillas, corn tortillas and corn chips, among other products, under the brand «Delicados». The company introduced the tortillas and corn chips to the Russian market and currently commands the leading market position in that country´s retail and foodservice segments. During 2010, Solntse´s net sales totaled nine million USD. This acquisition is an important step for Gruma, representing the company´s entry into Russia, a country in which tortilla and chip consumption is becoming very popular and in which Gruma had until now a presence only through exports. This acquisition is consistent with, and supports, Gruma´s overall strategy to take advantage of opportunities and synergies worldwide.