Tortilla Production Company Expands in the U.S.
June 12, 2011 § Leave a comment
Mexican company Gruma Corp. is going to expand its presence in the U.S. by making a huge addition to its parent company, Mission Foods. Gruma Corp. is snatching up Albuquerque Tortilla Company Inc., whose main activity is the production of wheat and corn tortillas, for $8.8 billion.
Gruma Corp. announced the acquisition in April 2011, impressed by Albuquerque Tortilla’s $14 million dollars in sales for 2010. Although the company, with 180 employees, is now part of Mission Foods, it remains unclear whether the number includes all of Albuquerque’s company sales or is just limited to tortilla production revenue.
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