NutraCea Completes Joint Venture with Alothon
SCOTTSDALE, Ariz., Jan. 21, 2011 /PRNewswire/ — NutraCea (Pink Sheets: NTRZ), a world leader in production and marketing of stabilized rice bran (SRB), rice bran oil (RBO) and their derivative products, today announced that on January 18, 2011, AF Bran Holding LLC closed on the previously announced purchase of an ownership interest in Nutra SA, LLC, the 100% owner of Industria Riograndese De Oleos Vegetais Ltda., (“Irgovel”).
Ettore V. Biagioni, Managing Partner of Alothon Group, the private equity firm that manages AF Bran Holding, commented, “We are enthused to participate in the significant growth opportunity of the SRB and RBO space in Brazil as well as the rest of the world and particularly pleased to join the NutraCea and Irgovel management which is a leader in the industry.”
W. John Short, Chairman and CEO of NutraCea, stated, “We are pleased to have completed this transaction and look forward to working with the Alothon team to build Irgovel into a globally competitive, state-of-the-art rice bran oil bio-refinery.”
This release may contain forward-looking statements. These statements are made based upon current expectations that are subject to known and unknown risks and uncertainties, including, but not limited to, general business conditions, the ability to manage growth and political and other business risks. The Company does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in the Company’s filings with the Securities and Exchange Commission, including the Company’s most recent periodic reports.
NutraCea is a world leader in production and marketing of stabilized rice bran (SRB), rice bran oil (RBO) and their derivative products. NutraCea holds many patents for stabilized rice bran (SRB) production technology and proprietary products derived from SRB. NutraCea’s proprietary technology enables the creation of food and nutrition products to be unlocked from rice bran, normally a waste by-product of standard rice processing. NutraCea also produces consumer rice bran health supplements which can be found at http://www.nutraceaonline.com. More information can be found in the Company’s filings with the SEC and by visiting our website at http://www.NutraCea.com.