NutraCea enters Italy with Giulio Gross

NutraCea is the world's leader in stabilized rice bran technology, which involves the production of an ingredient naturally rich in vitamins, minerals, and antioxidants from what is normally a by-product of rice processing. The company's activities involve the production and distribution of both finished products and ingredients for use in health and functional foods. The deal takes its offerings into one of the major European markets with a partner that has an established presence in distributing to the life science sector. Giulio Goss has three business units: Savoury and General Food supply ingredients to all segments of the food industry; Pharma & Health Food, which offers raw materials and excipients for generic pharmaceuticals and dietetic and nutraceutical products. Its annual sales exceed €176m. NutraCea's commitment to Europe is evidenced in its construction of its first European plant, which is expected to come on-line later this year. Until then, Giulio Gross will be importing its products. The latest deal follows others in the past two months with Med-Chem for Australia and New Zealand and FX Morales y Associados for Mexico. In mid February NutraCea has announced the private placement of $50m worth of its common stock, which it plans to use to finance the large-scale supply of its products. Also last month it embarked on a phase 2 expansion of its Dillon, Montana plan. It intends to increase total production capacity to 2700 tons annually from the original 900 tons when the first phase expansion efforts began in twelve months ago. Alongside selling its products to food producers in the developed world and multinationals, NutraCea also works with local rice processors in developing countries, initiating feeding programmes for malnourished sectors of the population.