Lamb Weston has created a joint venture in Argentina with holding company Sociedad Comercial del Plata to serve the South American market.
Each partner will own 50% of the venture, Lamb Weston Alimentos Modernos, which will sell frozen potato products under the Rapipap and Morixe brands.
The business will operate a manufacturing facility in Buenos Aires, Argentina, with an annual capacity of approximately 130 million pounds of finished goods.
“Our joint venture partner has more than 30 years of experience in the South American market, and we’re confident their depth of knowledge of the region combined with our operational expertise will allow us to expand and better serve our customers,” said Tom Werner, CEO of Lamb Weston.
“South America is a strategic and growing market, and this joint venture will allow us to produce quality fries in Argentina and serve the broader South American region with an established partner.”
Ignacio Noel, president of Sociedad Comercial del Plata, added: “We are honoured to partner with Lamb Weston. We share the same values and business principles, as well as our passion for product quality and first-class service to our customers.
“Lamb Weston is one of the world’s leading suppliers of frozen potato products, bringing to the joint venture operational excellence and best practices.”
With this announcement, Lamb Weston independently and through joint ventures operates 27 manufacturing facilities worldwide.
This year, the company has acquired two Australian potato processors: Marvel Packers and Ready Meals.
Founded in 1927, Sociedad Comercial del Plata is an Argentine holding company with activities in energy, materials of construction, agribusiness, rail transport, entertainment and real estate.
© FoodBev Media Ltd 2019