Peruvian Company Gloria Expands Presence in Ecuador’s Food Industry

In a strategic move to strengthen its foothold in Ecuador’s market, Peruvian company Gloria, through its food division Gloria Foods, has announced the acquisition of dairy and juice businesses in Ecuador. This acquisition, which encompasses 100% ownership of Ecuajugos S.A., was finalized through a share purchase agreement with Nestlé S.A. and Societé des Produits Nestlé S.A.

Claudio Rodriguez, President of Gloria Foods S.A., emphasized the significance of this acquisition in bolstering the company’s presence in Ecuador and the wider region. The deal not only includes the acquisition of Ecuajugos S.A.’s factory and distribution center located in Cayambe but also entails ownership of local brands such as La Vaquita, Yogu Yogu, Natura, Cereavena, and Huesitos. Furthermore, it grants Gloria Foods the licensing rights for Ecuador of global brands La Lechera and Svelty.

“We are confident that this transaction will strengthen our regional platform in Latin America, allowing us to continue delivering our quality and expertise to the countries where we operate,” stated Claudio Rodriguez, underscoring the strategic importance of the acquisition.

The closure of the transaction is subject to approval by Ecuador’s Superintendence of Economic Competition within the stipulated legal timelines. However, the financial details of the acquisition have not been disclosed.

This isn’t the first expansion move by the Peruvian group in the region. In 2022, Grupo Gloria announced the acquisition of Soprole, a significant player in Chile’s dairy market, along with juice and dessert segments, for a sum of US$210 million.

The acquisition of Ecuajugos S.A.’s operations represents a strategic milestone for Gloria Foods, marking its continued growth trajectory and commitment to expanding its presence in Latin America’s food industry landscape. As regulatory approvals progress, stakeholders will be keenly observing the development and its implications on market dynamics.