Hi Pat! A friend of mine gave me a copy of a press release which raised my interest. It concerns a Spanish Company (Ebro Foods) that is said to have reached an agreement with Sos Food Corporation SA for the purchase of its rice business. What do you think of Ebro Foods? Thank you in advance.
Ebro Foods SA, $15.45, symbol EBRO on the Madrid Stock Exchange (Shares outstanding: 153.8 million; Market cap: 2.4 billion euros, www.ebrofoods.es), is the leading Spanish food-processing company. It also the world’s largest rice producer, and the second-biggest pasta maker (its Panzani brand is the market leader in France).
Ebro recently bought Sos Food Corporation SA’s rice business for 195 million euros ($257.3 million Canadian). As well, Ebro is in talks to buy Ricegrowers Ltd., Australia’s dominant rice processor and marketer, for around 425 million euros.
Growth by acquisition adds risk, but Ebro is buying firms and assets in markets where it is already an established leader. The stock has moved up 23% since September. The shares trade at 15.8 times Ebro’s latest 12-month earnings, and yield 2.7%.
Ebro Foods is okay to hold.
hold.
…
Privacy Policy and Terms of Use
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Changes to this Policy
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