Peruvian food company Gloria Foods has reached an agreement to acquire 80% of Molfino Hermanos, which operates as Saputo Argentina, in a deal valued at approximately USD $500 million. The transaction is part of the Peruvian holding company’s strategy to strengthen its presence in the dairy business across Latin America.
The agreement was made with Saputo Inc., which will retain a 20% stake in the company. The deal also includes the transfer of the company’s commercial office in Brazil.
The closing of the transaction is still subject to regulatory approvals, according to standard procedures for acquisitions of this type.
If completed, the operation will allow Gloria Foods to incorporate one of the leading players in the Argentine dairy industry, with a significant presence in the production, marketing and export of milk-derived products.
Forma parte de una estrategia de crecimiento sostenido en América Latina. (Foto: Gloria Perú)
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Saputo Argentina has a well-established track record in the market and a nationwide distribution network. Its main assets include brands such as La Paulina, Ricrem and Molfino, recognized for their positioning in the cheese and other dairy segments.
The company also maintains a close relationship with local milk producers and has industrial infrastructure that allows it to sustain operations at scale and participate in international markets.
Saputo Inc.’s continued presence as a minority shareholder is intended to maintain commercial ties and facilitate the exchange of knowledge and experience between the two organizations.
Saputo Argentina es uno de los principales actores de la industria láctea en Argentina. (Foto: USI)
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Gloria Foods’ Expansion Strategy
For Gloria Foods, the deal represents a key step in its regional expansion plan. “The incorporation of Saputo Argentina into our holding strengthens our position in the sector and allows us to continue building a solid platform for the development of the dairy business in Latin America,” said Claudio Rodriguez, president of the company.
Gloria Foods is the food platform of Grupo Gloria, a Peruvian conglomerate with more than five decades of operations in the region. The company has more than 7,000 employees and a presence in Peru, Chile, Bolivia, Argentina, Colombia and Ecuador, with the dairy business as one of its strategic pillars.
Gloria’s Statement on the Acquisition
Gloria Foods told Gestión that the closing of the acquisition of Saputo Argentina is still subject to approval from the relevant regulatory authorities, and the company cannot provide additional information about the operation at this time.
However, company president Claudio Rodriguez indicated that the incorporation of Saputo Argentina into the holding will strengthen its position in the sector and advance the construction of a solid platform for the development of the dairy business in Latin America. The company added that it expects to announce its future plans once the process is completed.
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