Eagle, Idaho, USA-headquartered Lamb Weston Holdings announced on October 15 that it has formed a joint venture with Sociedad Comercial del Plata (SCP) in Argentina to serve the growing South American market for value-added potato products. Each partner will own 50% of the new joint venture, which will conduct business as Lamb Weston Alimentos Modernos S.A. Terms of the agreement were not disclosed.
Lamb Weston Alimentos Modernos S.A. will sell frozen potato products under the Rapipap and Morixe brands and will operate a manufacturing facility in Munro, Buenos Aires, Argentina, with 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, chief executive officer 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.”
“We are honored 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,” said Ignacio Noel, president of Sociedad Comercial del Plata. “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.
About the Companies
Sociedad Comercial del Plata (SCP) is a holding company with more than 9,800 shareholders and industrial activities in energy, materials of construction, agribusiness, rail transport, entertainment and real estate. SCP controlled companies have over 1,400 employees in Argentina. Founded in 1927, its shares are listed on the Buenos Aires Stock Exchange (ticker symbol COME) and on the Six Swiss Exchange (Zurich).
Lamb Weston, along with its joint venture partners, supplies frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. For more than 65 years it has been a trailblazer in innovation, introducing inventive products that simplify back-of-house management for customers.