MADRID, SPAIN -- Ebro Foods, parent company of Riviana Foods, Inc., announced today it has acquired the U.S. consumer rice business division of RiceTec AG and RiceTec, Inc. which manufactures and markets products under the brand RiceSelect® in a deal valued at $45 million.
The transaction includes the brand and certain other assets of the business, including a production plant in Alvin, Texas and a workforce of 42 employees.
"The RiceSelect business is a perfect complement to Riviana's portfolio," the company said in a press release announcing the acquisition. "It will boost the company's development in the fastest growing segments of the North American rice market...furthering its investment in high value added products and achieving significant positioning in the healthy foods segment through new concepts."