Molinos Río de la Plata
| Company type | Public |
|---|---|
| Industry | Food processing |
| Founded | 1899 |
| Founder | Bunge y Born |
| Headquarters | Argentina |
Area served | Argentina |
Key people | Gregorio Pérez Companc (owner) |
| Products | Bottled oils, margarine, pasta, baking mixes, packaged flours, yerba mate, rice, deli meats, frozen food items |
Molinos Río de la Plata (traded on the BCBA under the ticker MOLI) stands as Argentina's foremost branded food company and a key exporter of processed sunflower oil. Its product portfolio encompasses a diverse assortment of packaged foods tailored for the local market, such as bottled oils, margarine, pasta, baking mixes, packaged flours, yerba mate, rice, deli meats, and frozen food items.
Overview
The origins of Molinos trace back to 1899 with the founding of Centenera, a food processing facility established by Bunge y Born, a prominent wheat milling enterprise initiated by Belgian immigrants in 1884. By 1902, the company had constructed one of Argentina’s largest wheat mills located in Puerto Madero, marking the inception of Molinos Río de la Plata, which rapidly became a dominant force in the nation's retail food sector.
In 1998, Bunge & Born divested the majority of its consumer food operations and restructured into Bunge Limited, while transferring controlling ownership of Molinos to entrepreneur Gregorio Pérez Companc.
On August 1, 2002, Molinos executed a partial buyback of US$31.4 million (face value) from its US$150 million senior secured export notes (SENs), maturing in 2006, at a discounted rate of 25%, utilizing its cash reserves. This transaction lowered the outstanding SENs balance to US$52.6 million and enhanced the company’s financial standing by decreasing both debt levels and associated servicing expenses. Although payments were made punctually, credit risk persisted due to Argentina’s ongoing economic difficulties and currency depreciation. As of June 30, 2002 (pro forma), Molinos reported consolidated financial liabilities near Arg$718.8 million (equivalent to US$188 million), primarily comprising US$52.6 million in SENs and US$84 million in dollar-denominated working capital loans.
The company maintains operations across 20 production facilities, supported by 10 distribution hubs and a logistics fleet of 600 trucks. Additionally, Molinos manages 75,000 hectares of premium Pampas farmland dedicated to wheat cultivation.