Lamb Weston Holdings, Inc. announced that it has formed a joint venture with Sociedad Comercial del Plata in Argentina to serve the nearly 2-billion-pound South American market. Each partner will own 50% of the new joint venture, 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. With this announcement, Lamb Weston independently and through joint ventures operates 27 manufacturing facilities worldwide.