Millfoods builds corn processing plant in Mexico in JV with Grupo Modelo

The construction of the corn processing plant is Millfoods’ breakthrough into the Mexican market and consists of an investment of $300 million, and will result in the creation of 1,000 jobs, a direct benefit to 20,000 Mexican farmers and more than one million field workers by 2024.

The corn processing plant is set to become the region's largest and most advanced, with the corn mainly destined for beer production. One of its most important aspects will be its dry production cycle, which will reduce the necessity of water, thus accelerating the transition to a more sustainable and innovative agroindustry.

Milenio Capital is a business consortium based in Honduras and, more recently, Mexico through its local subsidiary Millfoods. Milenio is dedicated to reshaping the food and beverage industries. With a focus on beer and carbonated drinks, it has integrated operations across the American continent. Its strategic alliances with top outsourcing brands are driving its innovation and market adaptability, and its ESG-driven approach ensures sustainable development, according to the company.

Millfoods was advised in Mexico by local law firm  Basham, Ringe y Correa, and its  comprehensive assistance covered various critical services, including negotiating and drafting transaction documents and conducting environmental and regulatory analyses.

The firm’s team was led by partners Pedro Said and Amilcar García, with associates Antón Elorriaga, Pablo Chevez, Carolina Nogal, Valeria Couttolenc, Catalina Flores and Rodrigo Ruiseñor.