The operation between the companies includes the purchase of local brands La Vaquita, Yogu Yogu, Natura, Cereavena and Huesitos. The Superintendence of Economic Competition must still approve the closure of the business.
Logo of the Nestlé company, with presence in Ecuador. March 8, 2024.
The Peruvian company Gloria Foods reported in a statement, this Friday, March 8, 2024, that it has reached an agreement with the Swiss multinational Nestlé to acquire the operation of the businesses of the Ecuadorian dairy and juice company Ecuajugos SA.
The operation was closed with the signing of a share purchase contract with Nestlé SA and Societé des Produits Nestlé SA to acquire 100% of Ecuajugos’ businesses, the information stated.
According to the Peruvian company, in addition to the Ecuajugos SA factory and distribution center in the city of Cayambe, the operation includes the purchase of local brands La Vaquita, Yogu Yogu, Natura, Cereavena and Huesitos; and the licensing for Ecuador of the global brands La Lechera and Svelty .
Gloria Foods is part of the Peruvian business conglomerate known as Grupo Gloria, specialized in different areas, among which the dairy products sector stands out with an important presence and operations in Latin America, Nestlé Ecuador reported.
“We enthusiastically welcome the excellent human team and the important brands that the acquisition brings with it, and we are confident that this transaction will strengthen our regional platform in Latin America,” said the president of Gloria Foods, Claudio Rodríguez, in the statement.
The company specified that, “as is usual in this type of operations, the closure must be approved by the Superintendence of Economic Competition of Ecuador in the times and manner determined by law.”
Meanwhile, Nestlé Ecuador assured, in a statement published on its website, “that it will continue to operate this business normally in accordance with commercial needs.”
