USA- Riviana Foods Inc., a subsidiary of the Ebro Foods corporation based in Madrid, Spain, is planning to spend US$80.6 million to upgrade and expand its processing and packaging facility.
About 80 new full-time employees will be added as a result of the investment initiative at the facility based in Memphis, Tennessee.
Riviana will expand the Memphis factory by around 65,000 square feet and remodel it by about 20,000 square feet.
According to Riviana, the refurbishment and expansion will boost the plant’s current capacity for producing the company’s Minute rice microwaveable cups; Jalapeño Rice, and Jasmine Rice & Red Quinoa.
The one-minute ready meals were launched in June this year giving consumers that on-the-go convenience Minute Rice is known for.
They are Non-GMO Project Verified, Gluten-Free, contain no preservatives, are MSG and cholesterol-free, and are vegan.
Riviana also announced that it would increase its capacity to produce ready-to-serve bags of rice under the Tilda, Carolina, and Mahatma brands.
“We will be in a stronger position to meet or exceed customer needs of looking for simpler, better, and more nutritious food options,” said Enrique Zaragoza, president, and chief executive officer of Riviana.
“And we look forward to many more years of our successful partnership between Riviana and the Memphis community with this investment.”
An 11-year payment-in-lieu-of-taxes (PILOT) incentive granted by the Economic Development Growth Engine Industrial Development Board of the City of Memphis and County of Shelby, Tennessee, will finance the expansion and restoration project.
Since the facility started in 2006, this is the seventh expansion project. Riviana most recently made a US$15 million investment in April 2021 to upgrade production and increase the capacity for instant rice.
The first quarter of 2023 is anticipated to see the start of construction and demolition activities, while the first quarter of 2024 will see the beginning of new production capacity usage.
An 11-year payment-in-lieu-of-taxes (PILOT) incentive granted by the Economic Development Growth Engine Industrial Development Board of the City of Memphis and County of Shelby, Tennessee, will finance the expansion and restoration project.
Recently, the rice manufacturer agreed to acquire the assets of InHarvest, Inc. for approximately US$48.75 million.
InHarvest specializes in the production, marketing and sale of premium specialty rice, quinoa and grains for the foodservice, industrial and retail sectors.
The company’s California operations are strategically located in the rice-growing area of the Western United States.
“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 and chief executive officer of Riviana.
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