Peru's fast-growing food manufacturer Alicorp eyes growth in Latin America.
BY DANA FORD
LIMA — If you want to cook it, clean it, feed it or eat it – chances are Alicorp S.A.A. makes it.
The Lima-based firm, which sells everything from mayonnaise and ice cream to soap and pet food, is one of Peru’s largest consumer goods and food processing companies.
Alicorp has grown by leaps and bounds in recent years and is poised to become a regional player by expanding in Latin America. “We have a very positive outlook for the company and its growth this year,” says Gustavo Urrutia, a consumer analyst at Centura SAB who follows Alicorp. He says the company is riding the Andean boom wave.
Peru’s economy, which expanded some 9 percent last year, is one of the fastest growing economies in the world. Domestic demand is surging, which means consumption is up. The company made some $1 billion in sales last year, a 33 percent jump from 2006. By 2013, it hopes sales will top $2 billion.
Alicorp’s foreign growth strategy focuses on making acquisitions and building exports.
“Our plan is to invest and grow in international markets like Argentina, Colombia and Ecuador,” says Alfredo Perez, the company’s head finance officer.
Keywords: Argentina, Ecuador, El Salvador, Guatemala, Honduras, North America