Bunge North America has purchased Minsa Corp., a wholly-owned U.S. subsidiary of Grupo Minsa S.A.B. de C.V., valued at $75 million. The acquisition includes corn flour mills in Red Oak, Iowa and Muleshoe, Texas.
The acquisition creates scale in Bunge’s masa milling capacity and brings additional products and capabilities, including specialty products such as organic and non-GMO masa and colors such as blue and red corn. In addition to traditional bulk, tote, and 50-lb bags used by food manufacturers and foodservice customers, both the Iowa and Texas locations can produce 1-kilo/2.2-lb packages commonly sold by retailers under their own store brands.
“This acquisition is an important strategic step to strengthen our Food & Ingredients business in the United States, and could provide additional growth opportunities for the company’s other regions,” said Todd Bastean, president Bunge North America. “These assets, together with our existing plant in Worthington, Ind., make Bunge a leading U.S. producer of corn masa, a product that is experiencing significant growth not only here, but around the globe.”