Cherry Tree Advises InHarvest on its Sale to Riviana Foods
Riviana Foods Acquires Assets of Duininck Companies’ InHarvest
April 1, 2022
Riviana Foods Inc. announced today that the definitive agreement to purchase the assets of InHarvest, Inc. has been closed and completed. InHarvest specializes in the production, marketing and sale of premium specialty rice, quinoa and grains. The purchase price was $48.75 million, paid by Riviana on April 1, 2022.
The acquisition expands Riviana’s operations and geographic footprint into California and includes two production facilities in Colusa and Woodland strategically located in the rice-growing area of the Western United States. In addition, with InHarvest’s focus on the foodservice, ingredients/industrial and retail/private label sectors, the purchase complements and enhances Riviana’s current business in those segments.
“The acquisition of the InHarvest business is an excellent fit and consistent with our strategic plan to expand our position in the specialty value-added rice, quinoa and grains markets,” said Enrique Zaragoza, President & CEO of Riviana. “We are excited about this expansion as we also look forward to welcoming InHarvest’s employees to the Riviana team.”
About Riviana Foods Inc.:
Riviana Foods Inc. is North America’s largest processor, marketer and distributor of branded and private label rice products through its family of well-known brands including Minute®, Mahatma®, Success®, Carolina®, Comet®, Adolphus®, Blue Ribbon®, RiceSelect®, Gourmet House® and Tilda®. Riviana also processes, markets and distributes fresh pasta through the brand Olivieri®.
Headquartered in Houston, Texas, Riviana is a wholly-owned subsidiary of Ebro Foods, S.A., a leading Spanish food company and the world leader in the rice sector. For more information, visit www.riviana.com/
About InHarvest, Inc.:
Headquartered in northern Minnesota with operations in California, InHarvest is the foremost U.S. producer and procurer of some of the world’s most distinctive varieties of grains, beans, legumes and blends for the foodservice, industrial and retail sectors. The company’s dedication to discovering and promoting lesser-known, heirloom grains and seeds is deep-rooted in its over 40 year heritage of providing inspiration and solutions to an evolving food industry. For more information, visit www.InHarvest.com.