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Molinos Rio de la Plata acquires Minerva from Pernod Ricard.
South American Business Information, August, 2004
Argentina, Aug 13, 2004 (El Cronista/SABI via COMTEX)
Molinos Rio de la Plata, the Argentinean largest food company which is owned by the Perez Companc family, has acquired the total control of Minerva (Jugos Naturales Minerva), the leading Argentinean lemon juice company, from the local subsidiary of Pernod Ricard, the French beverage group, for US$2.1mil. Minerva has a plant in Pilar and a share of more than 70% in the domestic lemon juice market. The acquisition marks the group's return to the fruit juice market, from which it had withdrawn in the end of 2002 through the sale of Pindapoy. Molinos Rio de la Plata reported losses of Pesos$11.7mil in the first half of 2004. The bad result reflects the poor performance of the bulk sunflower oil business....
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