Riviana Foods Inc. announced the signing of a definitive agreement to purchase the assets of InHarvest, Inc. which specializes in the production, marketing and sale of premium specialty rice, quinoa and grains.
The acquisition expands Riviana's operations and geographic footprint into California and includes two production facilities in Colusa and Woodland strategically located in the rice-growing area of the Western United States. In addition, with InHarvest's focus on the foodservice, ingredients/industrial and retail/private label sectors, the purchase complements and enhances Riviana's current business in those segments.
"The acquisition of the InHarvest business is an excellent fit and consistent with our strategic plan to expand our position in the specialty value-added rice, quinoa and grains markets," said Enrique Zaragoza, President & CEO of Riviana. "We are excited about this expansion as we also look forward to welcoming InHarvest's employees to the Riviana team."
The transaction remains subject to customary closing formalities. The parties anticipate the transaction to close in early April 2022.
Riviana Foods Inc. is headquartered in Houston and serves as North America's largest processor, marketer and distributor of branded and private label rice products through its family of well-known brands including Minute®, Mahatma®, Success®, Carolina®, Comet®, Adolphus®, Blue Ribbon®, RiceSelect®, Gourmet House® and Tilda®. Riviana also processes, markets and distributes fresh pasta through the brand Olivieri®. Riviana is a wholly-owned subsidiary of Ebro Foods, S.A., a leading Spanish food company and the world leader in the rice sector.