The United States established itself as the main market for corn flour, tortilla and wraps products made by the Mexican global food company Gruma with 55% of net sales last year.
The Mexican multinational has achieved significant sales growth after launching healthier products, such as low-carb and gluten-free tortillas, the growth of Mexican food restaurants and tortilla-producing companies.
According to a press release, Gruma stressed that in 2018 the net sales of operations outside of México represented 73% of the Company’s consolidated figures. The United States accounted for 55%, followed by Europe, with 7%; Central America, with 6%; and Asia and Oceania, with 5%.
Regarding the total operating cash flow (EBITDA), foreign transactions provided 75% of the company’s total. The United States accounted for 64%, followed by Europe, with 4%; Central America, with 4%; and Asia and Oceania, with 3%.
Founded 65 years ago in Nuevo León, Mexico, Gruma is recognized among Hispanics primarily for its Maseca cornmeal brand and in the United States, with the Mission brand, it is one of the leading vendors of tortillas, flatbreads, wraps, tortilla chips and taco shells among other products.
Meanwhile, in Europe, the company has reported significant growth in the sale of grits for snacks by attracting new customers in Italy, Israel, and Turkey.
Related Article: New plant in Dallas will produce 10 billion tortillas a year
The tortilla segment has grown with the launch of new products, the loyalty of new customers in the retail channel in Germany, Italy, and the U.K. in addition to exports from Europe to northern Africa, and an increase in the consumption of wraps driven by global fast-food chains and traditional Middle Eastern dishes sold in local restaurants.
In Russia, Gruma’s sales have grown by more than 15% each year, thanks to the acceptance of the Company’s products, in both the restaurant and self-service channels served by the Gruma plant equipped with state-of-the-art ecological technology with capacity to produce more than 50,000 tons of wheat tortillas and corn fritters per year with raw material and grains grown in Russia.
Most of Gruma’s investments in 2018 went towards increasing production capacity in plants in the United States, Asia, Oceania and Europe, reaching $209 million. Another $50 million was invested in the first quarter of 2019, the company said.