New alliance in the European rice and pulses sector
Mitsui acquires a stake in Rol-Ryz, a subsidiary of Euricom
Euricom SpA, one of the world's leading players in the rice sector, and Mitsui & Co., a global trading and investment group, are in the process of starting a strategic partnership in the European legume and rice sector. Mitsui will acquire a stake in Przedsiębiorstwo Rol-Ryż sp. z oo through a special purpose vehicle in the Netherlands for an undisclosed amount. The Rol-Ryz company (controlled by Euricom) is one of the market leaders in the rice sector in Eastern Europe, Scandinavia and the Baltic countries and is also present on the pulses market.
Euricom entered the legumes sector with the acquisition of Rol-Ryz in 2019. Since then it has strengthened its presence with a newly built plant entirely dedicated to the product. Legumes and rice are produced with a strong similarity and are often marketed on the same channels. Both products are expected to record solid and sustained growth in consumption over the long term, thanks to the strong focus of European consumers on healthy diets that increasingly deviate from animal protein sources and move towards foods with high levels of protein plants and with a positive environmental impact thanks to the reduced carbon emissions for their cultivation.
The multinational has strong global experience in food and ingredients, particularly in its domestic market, Japan. It also has several strategic investments between food companies around the world. Bruno Sample, president of Euricom, commented: “In recent years we have developed a close relationship with the Mitsui team and identified significant synergies and margins for cooperation. Our partnership will allow us to further strengthen our global leadership, consolidating our strong position in the main European and Latin American areas where we are already leaders, and further strengthening our business in other areas, thanks to Mitsui's strong global presence”. Euricom, which transforms all varieties of rice in its plants, has factories in the various countries of the European Union and has a historic presence in the Euricom Group global network Rol Ryz plant dedicated to legumes. The acquisition is subject to antitrust approval and is expected to close in the second quarter of 2022.
EFA News - European Food Agency