Alothon PR--Alothon is RIBT's 49% partner in Brazi
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Posted On: 01/26/2013 1:43:42 PM
Alothon PR--Alothon is RIBT's 49% partner in Brazil
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-- Latest Execution of Strategy to Invest in Brazilian Food & Beverage Category --
SÃO PAULO, Brazil & NEW YORK--(BUSINESS WIRE)--Alothon Group LLC, a leading private equity firm that invests in
middle market growth companies in Brazil, announced today that it has completed an investment in Industria Riograndese De
Oleos Vegetais Ltda. (“Irgovel”), through its Fund II investment fund.
Irgovel, based in the Brazilian state of Rio Grande do Sul, is the leading rice bran food
ingredients producer in Brazil, with the capability and know-how to process and market foodgrade
rice bran oil and rice bran-based co-products. Irgovel is strategically headquartered
where much of South America’s rice production is concentrated and conveniently situated
approximately 60 kilometers (36 miles) from the port of Rio Grande, Brazil’s third largest
seaport.
Alothon’s investment will provide Irgovel with the ability to increase manufacturing capacity
and expand its product line further into rice based food ingredients for human consumption,
an area of increasing demand in both Western and Asian countriesAfter the expansion is
completed in the next 12 months, Irgovel expects to reach approximately R$80MM
(US$50MM) in annual revenues.
Irgovel, with 215 employees, currently offers approximately 38 products, both branded for sale to the national retail market in
Brazil as well as products for export, primarily to major Asian markets. The company is a highly regarded innovator that
consistently adjusts its portfolio of products to meet the demand of its markets and customers.
“The investment in Irgovel continues the execution of our strategy to make select investments in companies in Brazil that we
believe will benefit from the increased purchasing power of the middle class and their desire for healthier foods and food
ingredients,” stated Ettore V. Biagioni, Managing Partner of Alothon. “Rice bran is a highly nutritional ‘all natural’ ingredient that has applications in several attractive markets such as edible grade oils, functional foods, and animal nutrition, as well as personal care.” Indústria Riograndense de Óleos Vegetais Ltda ("Irgovel") is the largest rice bran processing facility in South America and the only Brazil-based company to produce rice bran oil for human consumption.
“Irgovel’s management team is very experienced in the edible oil and rice industry and is committed to increasing the scope and scale of the business through continuous innovation and the integration of value-enhancing technologies that improve the efficiency and profitability of the business,” added Juan Lucena, Partner of Alothon. “We look forward to working with the company’s key executives and providing them with strategic and financial know-how to help them achieve their ambitious
growth objectives.”
Irgovel is the sixth investment in the food and beverage category by the Alothon team.
>>>>>>>
-- Latest Execution of Strategy to Invest in Brazilian Food & Beverage Category --
SÃO PAULO, Brazil & NEW YORK--(BUSINESS WIRE)--Alothon Group LLC, a leading private equity firm that invests in
middle market growth companies in Brazil, announced today that it has completed an investment in Industria Riograndese De
Oleos Vegetais Ltda. (“Irgovel”), through its Fund II investment fund.
Irgovel, based in the Brazilian state of Rio Grande do Sul, is the leading rice bran food
ingredients producer in Brazil, with the capability and know-how to process and market foodgrade
rice bran oil and rice bran-based co-products. Irgovel is strategically headquartered
where much of South America’s rice production is concentrated and conveniently situated
approximately 60 kilometers (36 miles) from the port of Rio Grande, Brazil’s third largest
seaport.
Alothon’s investment will provide Irgovel with the ability to increase manufacturing capacity
and expand its product line further into rice based food ingredients for human consumption,
an area of increasing demand in both Western and Asian countriesAfter the expansion is
completed in the next 12 months, Irgovel expects to reach approximately R$80MM
(US$50MM) in annual revenues.
Irgovel, with 215 employees, currently offers approximately 38 products, both branded for sale to the national retail market in
Brazil as well as products for export, primarily to major Asian markets. The company is a highly regarded innovator that
consistently adjusts its portfolio of products to meet the demand of its markets and customers.
“The investment in Irgovel continues the execution of our strategy to make select investments in companies in Brazil that we
believe will benefit from the increased purchasing power of the middle class and their desire for healthier foods and food
ingredients,” stated Ettore V. Biagioni, Managing Partner of Alothon. “Rice bran is a highly nutritional ‘all natural’ ingredient that has applications in several attractive markets such as edible grade oils, functional foods, and animal nutrition, as well as personal care.” Indústria Riograndense de Óleos Vegetais Ltda ("Irgovel") is the largest rice bran processing facility in South America and the only Brazil-based company to produce rice bran oil for human consumption.
“Irgovel’s management team is very experienced in the edible oil and rice industry and is committed to increasing the scope and scale of the business through continuous innovation and the integration of value-enhancing technologies that improve the efficiency and profitability of the business,” added Juan Lucena, Partner of Alothon. “We look forward to working with the company’s key executives and providing them with strategic and financial know-how to help them achieve their ambitious
growth objectives.”
Irgovel is the sixth investment in the food and beverage category by the Alothon team.
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