Gloria Foods announced today that its subsidiary Gloria Chile SpA closed the purchase of all the shares of Soprole Inversiones S.A. (SISA) and took control of this and the other companies involved in the operation. The purchase was completed with the direct and indirect acquisition of 100% of the shares of Inversiones Dairy Enterprises S.A., holder of 99.887% of Soprole’s capital stock.
Finally, the Gloria Group completed the acquisition of Soprole, after launching an offer for close to US$680 million. This allowed the company to have total control over dairy products and to ratify Hugo Covarrubias Lalanne as president of the entity.
The process, which began in September 2021 with the start of the sales exploration by the former controller Fonterra, was approved by Chile’s National Economic Prosecutor’s Office last February.
“For Gloria Foods it is very good news to finalize the purchase of Soprole. It is a great Chilean company and brand, with a successful history in the country, and very much loved by its customers and consumers. As of today, we will work together with the board of directors, its executive team and collaborators, to give continuity to the strategic plan and continue to deepen its leadership in the national market, in line with its growth expectations, as well as to contribute to the development of Gloria Foods in the region”, said Claudio Rodríguez Huaco, CEO of Gloria Foods.
Tags: Gloria Foods, takeover bid, chciel shares, Sisa, expansion, company
The Gloria Group currently exports cheese produced in Uruguay to Peru, Chile, Bolivia, Mexico and Brazil. Forty percent of its Uruguayan production is sold on the domestic market and the rest is exported.
