Alicorp has recently formalized an agreement to acquire several businesses from Flora Food Group in Latin America, expanding its influence in the food and beverage industry.
The Peruvian consumer goods giant announced that it will take control of Flora’s operations in seven markets: Guatemala, Panama, the Dominican Republic, Colombia, Ecuador, Peru, and Chile. This strategic move aligns with the current trends in the food and drink business, highlighting the increasing consolidation in the sector.
While financial details remain undisclosed, the acquisition includes a manufacturing facility located in Cali, Colombia. According to Simpson Thacher, Flora’s advisor on the deal, it’s important to note that the transaction excludes Flora’s operations in Brazil and Mexico.
Headquartered in Amsterdam, Flora specializes in plant-based spreads, including its famous line of products like Becel and ProActiv. Its Latin American portfolio features well-known brands such as La Danesa margarine, alongside Dorina and Bonella butter. Bustamante Fabara, the legal advisor to Alicorp for the Ecuadorian segment of the deal, has confirmed the broader dimensions of this transaction across the region.
Despite inquiries, Flora has opted not to comment on the transaction, according to Just Food.
Alicorp plans to carry out this cross-border acquisition through its subsidiary, Alicorp Holdco España. However, the completion of the deal remains contingent on obtaining the necessary regulatory approvals in the respective jurisdictions.
Alicorp is known for manufacturing and selling a variety of products, including food, cleaning products, and personal care items, as part of the Romero Group. Its food portfolio boasts popular brands such as AlaCena sauces, Primor oils, and Casino cookies.
This move comes shortly after Alicorp’s acquisition of Unilever’s home-care business in Colombia and Ecuador earlier this year. In February, the company reported its financial results for 2025, showcasing revenue from ordinary activities of 11.76 billion new sol ($3.42 billion), which marks an 11% increase. However, operating profit decreased by 3.9% to 1.03 billion new sol, while net profit from continuing operations fell by 18% year-on-year to 446.5 million new sol.
In related developments, Saputo has struck a deal to divest an 80% stake in its Argentine dairy business to Grupo Gloria, effectively transferring control to the Peru-based group. Despite this sale, Canada-based Saputo will retain a 20% interest in the operation, Molfino Hermanos, which operates two production sites and owns local brands like La Paulina, Ricrem, and Molfino.
Overall, these transactions reflect evolving consumer trends and the dynamic landscape within the food and drink sector, emphasizing the importance of strategic acquisitions for growth and market presence.