Mexico: Gruma to build new baked goods factory

Gruma, the Mexican bakery firm, has announced plans to spend M$1.5 billion ($87.3 million) over the next six to eight years to build a new plant in Hunucma, Yucatan for the manufacture of tortillas, tostadas and packaged snacks.

Reportedly intended to address escalating demand in the southeastern region of Mexico, the US and the Caribbean, the plant will integrate local supply chains in Yucatan state for the sourcing of raw materials, packaging and general services, and will have an annual installed capacity of 56,000 tonnes.

Gruma is described as a leading producer of flour, corn tortillas and flatbread, reporting revenues of $1.6 billion in Q3 2023. It reportedly benefited from a particularly strong performance in the US, where it saw increased demand for value-added products, notably from its Better-For-You line.

Source: Mexico Business News / Reuters