Madrid, 1 June 2021. Ebro Foods, through its US subsidiary Riviana, and 8th Avenue Foods & Provisions closed and executed yesterday the sale of the Ronzoni dry pasta business and the dry pasta plant in Winchester, USA.
The transaction was valued at US$95 million (the value of 100% of the business, i.e. prior to any possible adjustment for the working capital).
After this divestment, the Ebro Group will still have a commanding presence in the American market through its dry and fresh pasta businesses of Garofalo® and Bertagni® and the frozen rice and pasta products of our subsidiary Ebrofrost. The Group will also continue to lead in the rice and high value-added product ranges through our brands Mahatma®, Minute®, Tilda®, Carolina®, Success®, RiceSelect®, etc.
RBC Capital Markets, LLC was the exclusive financial adviser of Ebro Foods in this transaction.
About Ebro Foods
Ebro Foods is the leading Group in the Spanish food sector in terms of turnover, profit, market capitalisation and international presence. Ebro is world leader in the rice sector and the second group in the international pasta sector. It has leading brands in each of these sectors, including: Panzani®, Olivieri®, Bertagni®, Garofalo®, Santa Lucia®, Russo de Cicciano® and Roland Monterrat® in pastas and sauces; Mahatma®, Success®, Carolina®, Minute Rice®, RiceSelect®, Tilda®, Lustucru Selection®, Taureau Ailé®, Oryza®, Bosto®, Reis-Fit®, Riceland®, Danrice®, Risella®, Abu Bint®, Blue Ribbon®, Adolphus®, Comet®, Lassie®, Saludaes®, SOS®, Brillante®, La Cigala®, Sundari® and La Fallera® in the rice sector; Santa Rita® in high value-added ingredients; and Geovita® in the area of pulses, quick-cooking grains and other healthy ingredients.
For more information: