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DCF advises RiceTec, Inc. on its sale of the RiceSelect brand and related assets to Riviana Foods, Inc., a subsidiary of Ebro Foods SA
CHARLOTTE, N.C, June 24, 2015 — Deloitte Corporate Finance LLC (DCF) acted as exclusive financial advisor to RiceTec, Inc. (RiceTec) on its sale of the RiceSelect brand and related assets (RiceSelect) to Riviana Foods, Inc. (Riviana), a subsidiary of Ebro Foods SA (Ebro).
Founded in 1976 and headquartered in Houston, Texas, RiceSelect is a leading US specialty rice brand that offers over 50 different specialty grain products. The RiceSelect brand is widely recognized for its premium product quality, great taste, locally sourced, all-natural, and “better-for-you” product attributes. RiceSelect’s loyal customer base appreciates its proprietary aromatic rice varieties such as the US grown Texmati® rice, its leading product innovation and its iconic jar packaging, which has helped RiceSelect secure significant market share in the specialty rice segment.
“Deloitte Corporate Finance did an excellent job designing and managing the sale process for us. Their understanding of the consumer packaged goods landscape and our sector was key to the successful outcome of this process. We are pleased with the advisory services of Deloitte Corporate Finance and that our RiceSelect specialty rice brand will be part of the Riviana/Ebro platform,” said Tena Bresler, president of RiceTec.
“It was a pleasure working with Prince Constantin Liechtenstein, chairman of the RiceTec Group, and the leaders of RiceTec and RiceSelect on this transaction. Clearly, the brand has a strong following and with Riviana/Ebro, it should continue to be supported in its effort to meet ever-widening consumer tastes and health preferences,” said Matt Preece, managing director, Deloitte Corporate Finance LLC.
Formed with the assets from Farms of Texas Company, RiceTec has been developing hybrid rice since 1988. With diverse experience and strong affiliations throughout the world, RiceTec combines unique skills in rice farming, plant breeding and consumer marketing. For more information, visit www.ricetec.com.
About Riviana Foods
Based in Houston, Texas, Riviana Foods Inc. is one of the largest processors, marketers and distributors of branded and private label rice products in the US Its principal brands include Mahatma®, Carolina®, Success®, Minute® and Gourmet House®. The Company has been the industry leader in marketing and processing of consumer rice products since 1911. Riviana Foods is a wholly-owned subsidiary of Ebro Foods, S.A., the leading Spanish food group, with interests in rice and pasta products. For more information, visit www.riviana.com.
About Ebro Foods
Ebro Foods is the leading Group in the Spanish food sector in terms of turnover, profit, market capitalisation and international presence. Ebro is the world leader in the rice sector and the second group in the international pasta sector. It has leading brands in each of these sectors, including: Panzani®, Ronzoni®, Skinner®, Healthy Harvest®, American Beauty®, San Giorgio®, Catelli®, Lancia®, No Yolks®, Wacky Mac® and Olivieri® in pastas and sauces; and Mahatma®, Success®, Carolina®, Minute Rice®, Lustucru Selection®, Taureau Ailé®, Oryza®, Bosto®, Reis-Fit®, Riceland®, Danrice®, Risella®, Abu Bint®, Blue Ribbon®, Adolphus®, Comet®, Lassie®, Saludaes®, SOS®, Brillante®, La Cigala®, Sundari® and La Fallera® in the rice sector. For more information, visit www.ebrofoods.es.
About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC provides strategic advisory services and M&A advice that help corporate, entrepreneurial and private equity clients create and act upon opportunities for liquidity, growth and long-term advantage. With an in-depth understanding of the marketplace and access to a global network of investment bankers, we help clients confidently pursue strategic transactions in both domestic and global markets. DCF, together with the Corporate Finance Advisory practices within the Deloitte Touche Tohmatsu Limited network of member firms, include in excess of 1,900 professionals, who work collaboratively across 150 international locations. With our significant experience providing investment banking services across key industries, we are able to offer our clients solutions that help them to achieve their strategic objectives. For more information, visit www.investmentbanking.deloitte.com.
Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security.
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