BOGOTA, March 28 Colombia's biggest food
processing conglomerate, Nutresa, hopes to double sales
in six years partly through takeovers in foreign markets to
capitalize on strong sales growth abroad, top company officials
said on Friday.
Nutresa's sales in 2013 grew 11.2 percent to $3 billion, one
third of which were made in Colombia. Domestic market growth
last year was 2 percent but abroad it was 27.5 percent,
explaining the company's interest in foreign acquisitions.
The company's portfolio includes meat processors and makers
of biscuits, chocolate, ice cream and pasta.
"We are studying opportunities in countries that allow for
cooperative activity to develop normally and where we can put
the group's strengths to work," said new CEO Carlos Ignacio
Gallego. He replaces Carlos Piedrahita who is leaving after 14
Neither named any specific takeover targets at a news
conference on Friday.
Last July Nutresa bought Chile's Tresmontes Lucchetti for
$758 million and reached a deal in February with Japan's
Mitsubishi Corp to create a coffee-trading company in Asia, a
region in Nutresa's expansion plan alongside Latin America.
(Reporting by Nelson Bocanegra; Writing by Peter Murphy;
Editing by Ken Wills)