Peru’s Alicorp purchases Argentine company for $65 million

Living in Peru
Israel J. Ruiz

Alicorp, the largest Peruvian food processing and consumer goods company in South, Central and North America is well on its way to reaching the goals recently announced by chief executive, Leslie Pierce.

In announcements made in late March and early April, the CEO stated that the company planned to boost annual sales to $2 billion and expand in Latin America with more foreign acquisition and exports.

With its purchase of a company in Argentina, Peru’s Alicorp is doing just that.

On Monday, company representatives announced Alicorp had purchased The Value Brand Company, a personal and home care products company in Argentina.

It was reported that the Argentine company was purchased for $65 million.

"We’ve closed a purchase deal with a company in Argentina for $65 million. The Value Brand, TVB, is a company that has approximately $100 million in annual sales in Argentina," said Leslie Pierce in a press conference.

Alicorp, which makes and markets food and mass consumer goods, has 15 industrial plants in Peru and has positioned its brands in countries such as Bolivia, Colombia, Chile, the Dominican Republic, Ecuador, Haiti, Honduras, Japan, Panama, and the United States of America.