Sparta Foods to Be Bought by Cenex Co-Op

Sparta Foods Inc., a maker of tortillas and salsas, agreed to be bought by a shareholder, Cenex Harvest States Cooperatives, for about $14.5 million in cash as Cenex adds consumer products to its lineup. St. Paul, Minn.-based Cenex, one of the two biggest U.S. farm cooperatives, will pay $1.41 for each of Sparta’s 10.3 million shares. New Brighton, Minn.-based Sparta, which has annual sales of $15.7 million, makes Mexican foods under the Arizona Brand, Cruz, La Campana Paradiso and Spanish Bell labels. Cenex, which sells farmers what they need to produce crops and raise livestock, and processes and sells the products for its farmer-owners, wants another grain-based food for its consumer lineup. Sparta shares closed down 3 cents at $1.28 on Nasdaq.