Alothon Increases Ownership Interest in Nutra SA
(firmenpresse) - SCOTTSDALE, AZ -- (Marketwire) -- 09/22/11 -- NutraCea (PINKSHEETS: NTRZ) (OTCQB: NTRZ), a global leader in the production and marketing of value added products derived from rice bran, today announced that Alothon Group, LLC, through its AF Bran Holdings subsidiaries ("Alothon"), has purchased an additional 450,000 membership interest units of Nutra SA, LLC ("Nutra SA"), the 100% owner of Industria Riograndese De Oleos Vegetais Ltda. ("Irgovel"), from NutraCea for $900,000, thereby increasing Alothon's ownership interest in Nutra SA to from 45% to 49%.
W. John Short, Chief Executive Officer of NutraCea, commented, "We are pleased with the progress made at Irgovel, our state-of-the-art rice bran oil bio-refinery located in Pelotas, Brazil. Leo Gringas, CEO of Nutra SA, and the management team at Irgovel, have done an excellent job, increasing sales and improving operating performance in all areas of Irgovel's business.
"Based on the continuing improvement and solid prospects at our Irgovel bio-refinery, Alothon exercised its option to increase its ownership interest in Nutra SA, the holding company for Irgovel, to 49%. We intend to use the proceeds towards meeting our general unsecured creditor obligations and for general working capital needs. I want to thank the team at Alothon for their support."
Juan Lucena, Partner of Alothon, commented, "The Irgovel and Nutracea teams have continued to execute successfully on the plan, in a market which we continue to be convinced offers significant opportunity and profitability for Irgovel."
This release contains forward-looking statements, including statements regarding the use of funds received by NutraCea. These statements are made based upon current expectations that are subject to known and unknown risks and uncertainties. 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 NutraCea's filings with the Securities and Exchange Commission, including NutraCea's most recent periodic reports.
NutraCea is a world leader in production and marketing of value added products derived from rice bran. 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 an underutilized co-product of rice milling. NutraCea also produces rice based consumer health supplements which can be found at . More information can be found in the Company's filings with the SEC and by visiting our website at .
Alothon Group LLC is a private equity firm dedicated to Latin American investments. Over the past 15 years, Alothon has invested in more than 30 companies in Latin America. The firm is currently focused on mid to late stage buyouts in Brazil, with the investment strategy focused on leading positions in businesses with strong franchise value that are expected to benefit from the country's emerging middle class. Alothon works closely with the management of companies in which it invests and brings a combination of strategic, financial, operating and governance expertise. For additional information, please visit .
Alliance Advisors, LLC
Alan Sheinwald
President & Founder
(914) 669-0222
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Datum: 22.09.2011 - 07:00 Uhr
Sprache: Deutsch
News-ID 1040042
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