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Financial News: PERU: Alicorp Is Close To Absorbing Bolivian Companies

PERU: Alicorp Is Close To Absorbing Bolivian Companies Fino And SAO

05/08/2018 - 19:57:00 (RTTNews)

(RTTNews) - The board of directors of Alicorp approved the purchase of the Bolivian olive edible oil producers Fino and SAO, which already belonged to Grupo Romero, the same one as Alicorp's.

The acquisition cost will range from US$ 390 million and US$ 420. Fino and SAO had a total revenue of US$ 500 million last year. Fino, based in Santa Cruz, belongs to the Romero Group since the 1970s, has 750 workers and markets its products in five countries.

SAO is owned by Inversiones Piuranas, another of the Romero Group companies, since December 2017 Investment, and currently operates in La Paz, Cochabamba and Sucre with a staff around 400 employees.

So far Alicorp only had a presence in Bolivia with pasta, cereals, detergents and soaps. The company also produces goods in Argentina, Brazil, Chile, Colombia, Ecuador and Peru.

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