Lala doubles down in Nicaraguan dairy
Latin America’s biggest dairy company, Mexico´s Grupo Lala last week announced an agreement to acquire La Perfecta, a Nicaraguan producer of milk, dairy products and juices, with 2014 revenues equivalent to $46 million.
Lala in 2014 acquired Eskimo, a Nicaragua-based maker of milk, ice cream and yogurt for sale in the domestic market, as well as in Costa Rica, Honduras, El Salvador and Guatemala.
Torreón-baed Lala in 2014 earned MXN 3 billion on revenues of MXN 45 billion, equivalent to around $230 million and $3.5 billion, respectively.
Founded in 1949, Lala has 15 production facilities and 160 distribution centers in Mexico, as well as subsidiaries in the United States, including Borden Texas and Louisiana, and Dairy Fresh, with operations in Alabama, Louisiana, and Mississippi.
Lala CEO Scot Rank until last year ran Walmex, a subsidiary of Wal-Mart Stores, Inc., with operations in Mexico and Central America, which in 2014 had revenues of MXN 34 billion– around $2.6 billion.
The chairman of Grupo Lala since 2000, Eduardo Tricio in addition is on the board of Aeromexico, Televisa, Banamex and Mexichem, among other companies.
Founded in 1959, Managua-based Productos Lácteos La Perfecta has eight brands, including La Perfecta, La Selecta, Nutrileche, Chocolita, and Dietalat.
No terms were disclosed in relation to the deal.