Madrid, 30 March 2004. Joseph Heap & Sons, subsidiary of Ebro Puleva, and Stevens & Brotherton, subsidiary of Riviana Foods, have completed the merger process begun on 17 September 2003, of which the National Securities Market Commission (CNMV) was notified on the same date. The resulting company, S&B Herba, 51%-owned by Ebro Puleva, has a leading position in the UK rice sector.
With this operation, Ebro Puleva continues to pursue its international growth and expansion strategy, particularly in Europe, where the Group has a strong presence.
Ebro Puleva is the first group in the Spanish food sector in terms of turnover, profits and market capitalisation. It is leader in the sugar, rice and dairy sectors and has a wide array of leading brands, such as Puleva, Ram, Leyma and El Castillo in the dairy sector; Azucarera and Sucran in the sugar sector; and Brillante, Nomen, La Cigala, La Fallera, Oryza, Bosto, Reis Fit and Riceland in the rice sector.
The Group chalked up a net profit of over 100 million euro in 2003, representing a year-on-year growth of 5.1%. Its turnover was 2,003 million euro last year.