Bunge to take controlling interest in corn flour producer

by Jeff Gelski
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Grupo Minsa corn flours and mixes
Grupo Minsa S.A.B. de C.V. offers corn flours and pre-mixes for tortillas and other goods.

ST. LOUIS — Bunge North America will secure a controlling financial interest in Grupo Minsa S.A.B. de C.V. since it has reached a subscription agreement to invest in the company, a corn flour producer.

Bunge will take management control of four mills in Mexico and two mills in the United States. The six mills have a combined annual processing capacity of 700,000 tonnes and produce a portfolio of corn flours and premixes for tortillas and other goods.

The investment allows Bunge to enter the corn masa market in Mexico. Bunge entered the U.S. corn masa market in 2014 by purchasing a mill in Worthington, Ind.

Todd Bastean, Bunge North America
Todd Bastean, c.e.o. of Bunge North America
“This (investment) is a natural extension of our successful milling platforms in the U.S. and Mexico that will enable us to expand in a product line that is growing due to demographic and economic trends,” said Todd Bastean, chief executive officer of St. Louis-based Bunge North America, the North American operating arm of Bunge Ltd., when the investment was announced Aug. 30. “With more facilities, products and capabilities, we’ll be able to provide a broader offering and enhanced services to our growing customer base, with more logistical and operational flexibility.” 
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