Grupo LALA Acquires Assets In Central America
MEXICO CITY, Dec. 17, 2014 /PRNewswire/ -- Grupo LALA, S.A.B. de C.V. (BMV: LALAB) ("Grupo LALA" or "LALA"), Mexico's leader in healthy and nutritious foods, announced today that it has entered into an agreement to acquire assets of Eskimo, S.A. and affiliates in a number of countries within the Central America region. This acquisition further strengthens and extends Grupo LALA's business and operations in Central America.
Eskimo, S.A. is a Nicaraguan food company with over 72 years in operation. The Company's main product categories are ice cream, milk and yoghurt, among others. In Nicaragua, Eskimo's most important market, Eskimo is the leader in the dairy industry and the Eskimo brand is synonymous with ice cream. The Company currently operates a distribution network that serves more than 15,000 points of sale in both modern and traditional channels, with operations in Honduras, El Salvador and Costa Rica. Eskimo, S.A. ended 2013 with US$54.5 million in revenues.
The transaction will be financed through LALA's existing cash position.
Arquimedes Celis, Grupo LALA's CEO, commented: "This acquisition is further affirmation of our interest in expanding LALA's operations in Central America, where we are confident that our business model can be successfully replicated." He added: "The ice cream category represents an opportunity to participate in adjacent operations as part of the growth strategy we already have in place."
The acquisition has been approved by Grupo LALA's Board of Directors and will be completed once regulatory approvals have been obtained.
About LALA
Grupo LALA, (BMV: LALAB), Mexico's leader in healthy and nutritious foods, has a history of more than 60 years of experience in the production, innovation and marketing of milk and dairy products under the highest quality standards. The Company operates 17 production plants and 160 distribution centers in Mexico and Central America, supported by more than 31,000 employees. Grupo LALA's fleet of approximately 7,300 vehicles distributes its more than 600 products to nearly 500,000 points of sale. LALA's portfolio is led by its two main brands: LALA® and Nutri Leche®.
For more information please visit: www.grupolala.com
Grupo LALA trades on the Mexican Stock Exchange under the ticker symbol "LALA B"
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SOURCE Grupo LALA, S.A.B. de C.V.
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