Australia’s leading food exporter SunRice acquires Vietnamese processing mill
The deal marked the first direct financial investment of the Australian group in Vietnam, and is a step closer towards establishing a comprehensive and sustainable supply chain in the country.
SunRice Group, Australia’s leading branded food exporters, has acquired a processing mill in the Mekong Delta province of Dong Thap, the Vietnamese government portal reported.
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Following the deal, SunRice would invest to enhance and expand the mill, aiming to enhance its rice whitening and polishing capacity, along with a new packing line.
The mill is anticipated to be fully operational during the first half of 2019 with a processing capacity of around 260,000 tons of dry paddy per year.
Rob Gordon, SunRice’s CEO, said the acquisition is part of a series of investments to facilitate Sun Rice’s growth strategy until 2020.
SunRice has become an established player in the Mekong Delta rice industry and now accounts for over 5% of all Vietnamese rice exports and more than 50% of its Japonica style rice exports, according to Gordon.
Over the last three years, SunRice has bought Vietnamese rice worth US$200 million.
With revenues in excess of $1 billion and operations and markets spanning the globe, SunRice supplies close to 50 countries with diverse and nutritious food products, employing around 2,200 people across Australia, the Pacific, America, the Middle East, Asia and Papua New Guinea, the group claimed.
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