ST. LOUIS — Grupo Trimex, Mexico’s largest flour miller, has completed the acquisition of seven Mexico wheat flour mills from Bunge Ltd. Financial terms of the transaction were not disclosed.
The plants are located in the states of Nuevo Leon, Jalisco, Sonora, Yucatán, Veracruz, Campeche and Mexico City.
Bunge said it will continue to operate its corn mill in Queretaro and serve its domestic oil and meal customers.
The transaction was first announced in October 2021.
At that time, Gregory Heckman, chief executive officer of Bunge, said the wheat milling business in Mexico was not fully integrated “in the way that is critical to successfully serving our customers in line with our long-term sustainable and strategic goals.”
“We believe selling the business to a well-respected wheat miller will provide a great opportunity for our employees as well as our customers,” he said.
Although it has divested its Mexico flour milling operations, Bunge still operates seven wheat flour mills in Brazil.
Grupo Trimex, meanwhile, expands its leading market share in wheat flour milling. It now will have 20 flour mills in Mexico that grind three types of wheat — hard, soft and durum.Founded in 1995 with the merger of four wheat mills in Mexico City, Grupo Trimex began acquiring Mexican mills over the next 20 years, including the acquisition of the wheat flour milling operations of Gruma in 2014.