Specialty Rice Grower Assets Obtained By Riviana Foods for $48.75 Million

Riviana Foods Inc. has agreed to purchase the assets of InHarvest, Inc. for about $48.75 million.

Riviana President and CEO Enrique Zaragoza has stated that the purchase of the InHarvest company is an ideal fit and consistent with the company’s strategies to extend its position in the specialized value-added rice, quinoa, and grains industries. He added that they are pleased about this growth and look forward to adding InHarvest personnel to the Riviana family.

Specialty Rice Grower’s Strategic Importance to Riviana Foods

Ebro Foods S.A. of Madrid, Spain, the parent company of Riviana Foods, has listed four reasons why the purchase of InHarvest assets is of substantial strategic importance. According to the company:

1.  InHarvest would be simple to integrate into the Riviana business.
2. The Ebro Group’s supply chain, plant network, packaging, and manufacturing capability in the United States would be enhanced.
3. The inclusion of InHarvest would provide Riviana access to commercial platforms where it presently doesn’t have a strong presence, such as food service and the military channel.
4. InHarvest’s value-added items will be added to Riviana’s product portfolio.

InHarvest, Inc. specializes in the manufacture, marketing, and sale of premium specialty rice, quinoa, and grains for the food service, industrial, and retail sectors and has two production sites in Colusa and Woodland, California. The company’s California businesses are also advantageously positioned in the Western United States’ rice-growing region.

InHarvest currently employs around 140 people and has produced about $50.3 million in revenues in 2020.