Multinational food group Ebro Puleva has acquired New World Pasta Company, North America’s leading marketer and supplier of branded dry pasta and noodles.
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The transaction, for an undisclosed fee, has been approved by a majority of New World Pasta outstanding shareholders and is expected to close in the next ten days.
New World Pasta will continue to operate under its current name, and its business activities will be maintained in Harrisburg, PA.
New World Pasta CEO Scott Greenwood said: “Ebro is an internationally recognised leader in consumer packaged foods, with a track record of success in growing its businesses organically and by acquisition.
“We are pleased that Ebro has seen the value and opportunity of our people, our valuable brands, our customers and our business. We intend to continue our successful efforts to grow and improve our business. With the strategic depth, research and development experience and additional financial resources that Ebro provides, we will be well positioned to harness the full potential of our Company.”
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By GlobalDataEbro Puleva chairman and CEO Antonio Hernandez said, “New World Pasta is a market leader in the North America pasta and noodle business. Its Healthy Harvest whole-wheat blend pasta is setting a new standard for consumer acceptance and growth in the traditional pasta category.
“We believe that our worldwide expertise and geographic balance, including our presence in the pasta category in Europe, where we have sales of approximately US$600m, and the rice category in North America, can help drive continued product innovation and development in the US and Canada, and create significant value for our shareholders, and for New World Pasta’s business partners and employees. We see great opportunity for the future.”
Spain-based Ebro has rice, sugar, dairy and pasta companies in its current portfolio, including Mahatma, Carolina and Success rices in the North American market.
