Dubai-based rice supplier Amira Nature Foods is to acquire German peer Basmati Rice for an undisclosed sum.
US-listed Amira said Basmati Rice supplies products under brands including Atry, Scheherazade and Sadry, plus own-label lines to German retailers like Edeka, Metro Group and Rewe.
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Basmati Rice generated sales of US$8m in 2012. Amira said the deal would boost its earnings in its current financial year, which runs until 31 December. No earnings figures for Basmati Rice were released.
“We believe our team can quickly expand their sales and further enhance their high margin branded product offering as we leverage our existing vertically integrated infrastructure and distribution in Europe to provide consumers a vast array of branded Basmati rice from our natural and organic offerings to new, unique items like smoked Basmati rice,” chairman and CEO Karan Chanana said.
