MEDELLÍN, COLOMBIA – Grupo Nutresa SA has agreed to acquire Belina, a Costa Rican animal nutrition company with three business segments: pet food, animal feed and aquaculture feed. The transaction is valued at US $ 28 million.
Grupo Nutresa will acquire all the shares of Belina Nutrición Animal, SA, Belina Importaciones e Innovaciones Dos Mil, SA and Industrial Belina Montes de Oro, SA
Belina has been producing, importing and distributing various foods of animal origin in Costa Rica for 15 years. According to Grupo Nutresa, its three business segments achieved a turnover of $ 34 million in 2020, with pet food accounting for 70% of sales.
“With this acquisition, we are venturing into the pet food market, a category with significantly positive growth dynamics,” said Carlos Ignacio Gallego, CEO of Grupo Nutresa. “Thus, we are striving to strengthen our presence in Costa Rica and Central America as a first step, with the prospect of expanding our reach to the entire strategic region.
“Grupo Nutresa’s sales in Central America amounted to $ 307 million in 2020, which represents 10.2% of total sales,” added Gallego. “This acquisition will help us strengthen this geography and complement our capabilities with those Belina has developed so far.”
In addition to producing her own brands, Belina also distributes Nutrisource pet food products, a brand made by Tuffy’s Pet Foods in Minnesota.
The animal nutrition company operates a production plant in Puntarenas and a distribution and logistics facility in Alajuela. Belina employs 225 people spread over the two sites.
“We are confident this is the entry into a market with significant growth opportunities and considerably strong fundamentals thanks to the growing presence of pets in homes and the increasing spending by their owners to ensure their health and well-being, ”concluded Gallego. “Our intention is to acquire significant knowledge in this segment and to develop new capabilities throughout our organization.”
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