Dainty rice maker bought by France's Marbour

The maker of Dainty Rice is being taken over by a French food processor.

Montreal-based MRRM Inc. announced on Tuesday that it has entered into an agreement to be acquired by Marbour SAS, the third largest rice producer and distributor in Europe.

Marbour is paying $11 million for MRRM, whose subsidiaries include Les Aliments Dainty Foods, Robert Reford Agency and Dainty Foods International.

Jean Bourdillon, president of Marbour, said that he believes his company’s size and investment capabilities will help MRRM to grow.

“Marbour has a strong track record of investing in, and successfully integrating, its acquisitions,” he said in a statement, adding that MRRM will operate through his company’s Siacom Canada organization.

Dainty Foods’ history dates back to 1882. It claims on its website to be Canada’s top supplier of rice products, processing more than 120 million pounds of rice a year.

In addition to selling rice under the Dainty brand, the company also produces rice products for the private label programs of grocery chains in North America.

The company has offices in Montreal, Toronto, Dearborn, Mich., and a plant in Windsor, Ont.

A company that controls 56.5 per cent of MRRM’s common shares has agreed to vote in favour of the takeover by Marbour.

If the deal goes ahead, it would Marbour’s first rice business acquisition in North America.