Grupo Nutresa agrees to acquire 51% of the distributor Atlantic Food Service

Grupo Nutresa informed through the page of the Financial Superintendency that it has entered into an agreement to acquire control of Atlantic Food Service S.A. S. (AFS), a Colombian company dedicated to the distribution of food in the institutional channel.

“Once the procedures are completed before the corresponding authorities and the other conditions for closing the business are met, Grupo Nutresa would have 51% of the AFS shares,” Grupo Nutresa explained.

The amount of the transaction would amount to 42,000 million pesos (US $13.5 million), but the final figure will be adjusted on the closing date of the business based on the working capital and financial obligations of AFS.

In 2018 Grupo Nutresa sold 5.7 billion pesos (US $ 1.835 billion) in Colombia and $ 3.3 billion (US $ 1.062 million) abroad, which represents a 3.7% growth in total sales compared to 2017.

In this way, the profits of Nutresa in 2018 reached 505,308 million pesos (US $ 162 million), 20% above those reported in 2017.

Grupo Nutresa is the parent company of 70 brands of sausages, cookies, chocolates, coffee, ice cream and pasta. Its products that are sold in approximately 65 countries.

AFS was one of the first companies in the food service sector and has positioned itself in Colombia in the marketing of food. It has logistics operations in Bogotá, Medellín, Cartagena, Barranquilla, Cali, Cúcuta and Bucaramanga.

Sign Up for Our Newsletters

You May Also Like

BMW integrates its operations in Latin America

BMW strengthened its operations in Latin America to group all the countries…

The Newmont Goldcorp suspends operations in Mexican mine

The company Newmont Goldcorp temporarily paralyzed its activities by an “illegal blockade”…

McDonald’s compensates its weakness in the US with global strength

McDonald’s Corp. surpassed Wall Street estimates for its comparable sales on Tuesday,…

Total closes US $ 1,500M agreement to acquire Engie’s LNG business

The largest French oil company Total said on Friday that it completed…