The Daily Journal — Food conglomerate Grupo Nutresa expects Venezuela to become one of its main growth engines within the next two to three years, according to company president and banker Jaime Gilinski in an interview published by El Colombiano.
The company’s strategy in Venezuela includes the acquisition of the Tío Rico ice cream brand and an industrial complex covering approximately 20 hectares with more than 200,000 square meters of facilities. The complex sits near the Port of Valencia and previously belonged to multinational company Unilever.
Valencia plant and local production model
According to El Colombiano, the facility in Carabobo state will serve as a production hub under the company’s One Nutresa corporate model, where several business units will operate.
Through this acquisition, Nutresa expects to capture about 55% of Venezuela’s ice cream market. The company also plans to introduce new product categories, first through exports from Colombia and later through local manufacturing.
“Last year our sales in Venezuela were minimal. This year we expect them to grow four to five times, and next year they will increase even more once the Tío Rico operation becomes fully integrated,” Gilinski said.
Rebuilding a historic presence
Gilinski also told El Colombiano that the Tío Rico acquisition goes beyond the ice cream business. He described it as a platform to rebuild the company’s presence in a market that, more than a decade ago, generated between 25% and 30% of the group’s total sales.
He added that Nutresa has strengthened its commercial structure in Venezuela and trained new teams to support its regional expansion plan, which also includes strategic investments in Ecuador, Mexico, and the United States.
Based on reporting by El Colombiano.
