- Business
- Gruma, S.A.B. de C.V. (GPAGF) operates as a global Mexican food company and the world's largest producer of corn flour and tortillas, focusing on the production, marketing, distribution, and sale of corn flour, wheat flour, corn and flour tortillas, tostadas, flatbreads including naan, pita, wraps, chapatti, and pizza bases, as well as snacks, baked goods, pasta, rice, condiments, and palm hearts; key brands include Maseca, Mission, Guerrero, Robin Hood, Tortiricas, and Tosty. The company serves industrial, retail, foodservice, and consumer markets through independent distributors and wholesalers, with operations spanning Mexico, the United States, Central America, Europe, Asia, and Oceania, and presence in over 100 countries; it maintains approximately 75 plants and around 25,000 employees. Founded in 1949 and headquartered in San Pedro Garza Garcia, Mexico, Gruma generates the majority of its approximately US$6.5 billion in annual net sales from international operations outside Mexico. Recent developments include a planned investment of MXN 792 million announced in February 2024 to build a new snack production center in Puebla, Mexico, and expand its Mission plant; a US$89 million commitment in early 2024 by subsidiary Mission Foods Mexico for a new facility in Yucatan capable of producing 56,000 tonnes annually of packaged tortillas, tostadas, baked goods, and snacks, expected to create up to 2,800 jobs; and capital expenditures of US$233 million in fiscal 2024 supporting capacity expansions in Europe, China, and Guatemala, alongside strong performance in better-for-you products driving operating income growth at Gruma USA.