Bunge To Buy Grupo Altex Wheat Mills In Mexico

(RTTNews) - Bunge North America, the North American operating arm of Bunge Ltd. (BG), said Wednesday that it has agreed to buy the wheat milling business of Grupo Altex S.A. de C.V.

Financial terms of the deal were not disclosed.

The purchase is expected to close by the end of the year.

A leading Mexican wheat miller, Grupo Altex operates six mills with an annual processing capacity of about 800,000 metric tons. It produces a broad portfolio of products from many varieties of wheat including bread flour, prepared flours for baked goods, tortillas and pizza and semolina for pasta.

In addition to the mills, Bunge is acquiring Grupo Altex's product brands and its innovation center.