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Candy Latin to sweeten Africa

In any debate on the agro-industrial sector of Argentina is likely that someone will mention the longing national to stop being “the breadbasket of the world” t

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Candy Latin to sweeten Africa

In any debate on the agro-industrial sector of Argentina is likely that someone will mention the longing national to stop being “the breadbasket of the world” to become the “supermarket of the world”. And who will ask what company has contributed most to this goal of exporting higher value added will surely make mention of Arcor, the leading food company in the country. The company,founded in 1951, celebrated his goal with a vengeance: not only is the first exporter of candy from Argentina but also from Brazil, Chile and Peru, the markets in which they are distributed its 47 factories, in addition to Mexico. In the middle of this year, announced that for the first time will take your production outside of Latin America, with the installation of an industrial plant in Angola, which will invest $ 45 million together with a local partner.

candy is the business that gave rise to Arcor. But the group, with a turnover of 3,100 million dollars in 2017, manufactures a wide variety of mass consumption products: chocolates, ice cream, cookies, jams, and foods such as sauces, canned vegetables, polentas and oils. Also, made progress in the vertical integration and produces its own strategic supplies: raw materials, agro-industrial, and packaging. But are the sweets and chocolates the tip of the spear, with which has accessed to 120 markets around the world. In Angola are from more than a decade ago, but the new plant that plans to build next to Webcor, one of the main distributors of food in the african country, to enable them to increase their sales in the market and, at the same time, export to Congo, Namibia, Zambia and Botswana, as reported by the company to regulatory stock market of Argentina.

The announcement of her landing the industrial in Africa was not the only important 2018. In June, the group increased its stake to 42.6% in Mastellone Hermanos, the dairy sector's leading company in Argentina and one of the largest in the region, with a dozen plants and more than 3,500 employees. Your advancement within the historic family-owned company, owns the trademark La Serenissima, has been a gradual process involving also its subsidiary Bagley (where the French Danone is a partner with a 49 per cent). Started in 2015 with an agreement in which the giant of the goodies has an option to keep the control in 2021, and this year has added 4.2% in two operations.

candy Arcor are sold in 120 countries, but its position is especially strong in the markets that extend between the changarros in mexico and kiosks in Argentina. The company needs that has a million points of sale between Argentina, Brazil, Chile, Mexico and Peru. Despite its international profile and maintains its headquarters in Arroyito, a small town in the province of Córdoba (both places got its name), where it was founded by a group of friends. Their descendants are today the main shareholders of the company, among which stands out the family Pagani. Luis Pagani, son of one of the founders, is to the front since 1993.

The company ensures that it has a million points of sale throughout Latin america

The vertical integration has been one of the strengths of the group since its inception. In 1954, the firm of Arroyito had its own factory packaging and the new business unit grew in parallel to the of the goodies. With its subsidiary Cartocor is an industry leader in packaging paper and paperboard in Gorabet Argentina for several years, and in mid-2017 strengthened the business with the purchase of 100% of Zucamor, its main competitor.

But the acquisition of Zucamor and the purchase of shares of Mastellone increased mightily the indebtedness of Arcor. With the greater part of the loans denominated in foreign currency (74% to June 2018) and income concentrated in Argentina and in pesos, the recent exchange rate crisis in the south american country turned red the latest partial results of the group. The peso depreciated by more than 50% in 2018, and the financial expenses of Arcor increased from less than 2,000 million pesos at the end of the first nine months of 2017, more than 13,000 million in the same period of 2018. Happened to win 1,000 million pesos to lose 6.200 million. The company said that if the results conform to the accounting standards that apply to the economies of high inflation (the index accumulated in three years exceeds 100% in Argentina), the red numbers would be as much 3.933 million pesos (95 million euros).

putting the lie to the crisis

This instability has unnerved the markets. Two weeks ago, Arcor had to disprove the information of a news portal announced a supposed restructuring of its debt. The company reported “versions unfounded and ill-intentioned” and stressed that the company “has a solid financial position”. Analysts share the vision of the company. Cecilia Minguillon, economist of the risk rating agency Fix (partner of Fitch Ratings in Argentina), says that Arcor maintains the highest possible ratings in the country thanks to the good profile of your debt and the generation of funds, which ensures its strong market position along with its export capacity. “You have a good structure of debt, with 75% of your debt in the long term, the maturity more important in 2023, which insulates it from the volatility factors of the short-term,” he says.

The group had a turnover of 3.100 million dollars in 2017 with a wide range of products

Alfajores to the world

Is the main food company in Argentina, the first world producer of candies and the main exporter of candy from Argentina, Brazil, Chile and Peru.

Its subsidiary Bagley, in which she is a member of the Danone Group, is one of the leading companies of the region in the industry of biscuits, alfajores and cereal.

Its products are sold in 120 countries of the five continents and in 2017 its exports reached $ 270 million (180 million from Argentina).

Has a total of 47 plants in the region, distributed between Argentina (37), Brazil (5) Chile (3), Peru (1) Mexico (1). In June announced an investment of 45 million dollars to install in Angola its first factory outside of the region, together with a local partner.

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