Lamb Weston and Argentinaâ€™s Sociedad Comercial del Plata (SCP) are forming a joint venture they say will open doors to the South American processed potato market.
US company Lamb Weston is one of the largest producers and processors of frozen french fries and other frozen potato products in the world. Each partner will own 50% of the new joint venture, announced last week, which will be called Lamb Weston Alimentos Modernos.
Lamb Weston Alimentos Modernos will sell frozen potato products under the Rapipap and Morixe brands manufactured in its factory in Buenos Aires, with an annual capacity of around 60,000 tonnes of finished goods. Financial details of the transaction were not disclosed.
Tom Werner, the CEO of Lamb Weston, said it was confident that the depth of knowledge of the South American region, where it has more than 30 years of experience, combined with Lamb Weston’s operational expertise would allow the newly-formed joint venture to expand and better serve Latin American customers.