Molinos Rio de la Plata, an Argentinian food company owned by the Perez Group, has acquired a local dough making business from General Mills in the US.
Molinos Río de la Plata, a unit of the Perez Companc Group, has acquired La Salteña from General Mills, Inc. for an undisclosed amount. La Salteña produces refrigerated doughs and fresh and dry pastas. Founded in 1962, the brand employs more than 500 staff members and has a plant in Burzaco, Argentina. Molinos said it will work to develop La Salteña’s offerings and increase its visibility among Argentine consumers.
The acquisition is part of Molinos’ aggressive investment and growth strategy. Over the past two years, the Argentine food company, which owns more than 20 brands, has invested $100 million into updating and expanding its operations, which includes the construction of two storage centers and two gluten-free noodle lines and creating Chocoarroz and Gallo Snacks production lines.