Canadian company Saputo transfers control to the Peruvian holding company. It includes the Tío Pujio plant and the operation in Santa Fe
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The Canadian multinational Saputo agreed to the sale of 80% of its dairy division in Argentina to Grupo Gloria from Peru. The transaction was valued at US$ 630 million and involves an initial outlay of US$ 500 million. The agreement includes the historic brand from Córdoba, La Paulina, and the industrial plant in Tío Pujio.
The selling company will retain 20% of the share package and expects to close the transaction in the first quarter of 2027. The transfer of assets now depends on the corresponding regulatory approvals from the authorities. The transfer of the commercial office that the company operates in Brazil is also contemplated.
The deal includes 2 strategic industrial plants located in Córdoba and Santa Fe, in addition to a portfolio of leading brands. Among the assets, La Paulina, Ricrem, and Molfino stand out, heavyweight names on local shelves. Saputo entered the country in 2003 after acquiring the company Molfino Hermanos.
La multinacional canadiense Saputo acordó la venta del 80% de su división láctea en Argentina al Grupo Gloria de Perú.
Restructuring of the private market
The division that is changing hands caused revenues of US$ 885 million during the last 4 fiscal quarters. This figure represented 7% of the global turnover of the group headquartered in Montreal. The divestment seeks to improve the financial flexibility of the parent company in order to reinvest in other markets.
Carl Colizza, Saputo's CEO, stated that the sale recognizes the strength of the brands built in the Argentine market. The company will obtain an estimated net income of US$ 400 million after deducting the taxes on the transaction. They will continue buying products from Argentina to supply their international chains.
Saputo currently leads the milk processing ranking in Argentina with a daily intake of 3.65 million liters. That volume accounts for 12.5% of the total industrial level nationwide, according to data from the Dairy Chain Observatory. The partial exit of the Canadians reshapes the dairy map.
El negocio comprende 2 plantas industriales estratégicas ubicadas en Córdoba y Santa Fe
Expansion of Peruvian capital
Grupo Gloria is not a new player in the national industry and had already been operating since 2006 in the town of Esperanza in Santa Fe. The Peruvian company initially partnered with the Gonella family to create Corlasa and then took full control in 2010. They specialize in the production of powdered milk and fats for export.
With this acquisition, the Peruvian holding company adds mass-consumption brands and drastically expands its industrial scale in the country. The move represents a strong capital bet in a recovering market. Gloria seeks to consolidate its position in one of the main food producers.
Saputo currently operates 67 plants in 5 countries and employs 19,600 people worldwide after 70 years of history. Meanwhile, the Peruvian buyer validates with fresh dollars the quality of local productive assets. The private sector demonstrates dynamism in adjusting its investment portfolios.
