MONTERREY, MEXICO — Grupo Trimex, S.A. de C.V. has completed its acquisition of the wheat flour milling operations of Gruma S.A.B. de C.V. in Mexico. As part of the $260 million transaction, Mexico City-based Grupo Trimex acquired all the shares representing Molinera de México, S.A. de C.V.’s capital stock, owned by Gruma, as well as the assets owned by a subsidiary of Grupo Industrial Maseca, S.A.B. de C.V., related to wheat flour production.
“The proceeds from the sale will be used primarily to pay down debt, thus strengthening the financial structure of the company,” Gruma said. “This transaction is in line with the company’s strategy of focusing on its core businesses, always aiming to enhance value creation.”
Grupo Trimex is a Mexican milling company with almost a 30-year history in the industry.
According to the 2014 Grain & Milling Annual published by Sosland Publishing Co., Gruma operates flour mills in Juarez in the state of Chihuahua (60 tonnes per day milling capacity), Gomez Palacio in Durango (400 tonnes), Naulcalpan in Estado de Mexico (500 tonnes) and Puebla in Puebla (1,050 tonnes).Grupo Trimex operates mills in Mexico City (three mills, with daily capacity of 300 tonnes, 480 tonnes and 500 tonnes), Acapulco in Guanajuato (no capacity information available), Irapuato in Guanajuato (180 to 200 tonnes), Oaxaca in Oaxaca (no capacity information) and Coatzacoalcos in Veracruz (no capacity information).