Several global companies were interested in Fonterra's assets in Chile, but finally the Peruvian Gloria Group was left with the second most important company in the Chilean market. With this acquisition it becomes one of the most important companies in the region.
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Peruvian Gloria Group buys subsidiary of Fonterra in Chile
LR/Fernando Cuadros

Finally, the Peruvians prevailed in a race that included world giants in the dairy sector such as Lactalis, Saputo and the dairy company China Mengniu and will disburse US$640 million for 100% of New Zealand Milk, the controlling company of Soprole Inversiones and its subsidiaries. in Chile.

With this acquisition, Gloria Group becomes the largest in South America and one of the leaders in Latin America in the dairy sector, competing with the Mexican Lala.

The history of Gloria Group is the reverse of most of the Latin American dairy industries. It began as a foreign company to later be acquired by local capital.

Gloria was born in 1941, from the hand of the North American company General Milk Company Inc. It established the first plant in the city of Arequipa. Later Carnation Company bought the General Milk Company Inc. in 1978 and Leche Gloria S.A. changed its name to Gloria S.A.

In 1985 Nestlé of the country of Switzerland becomes the majority owner of Gloria S.A. by acquiring the Carnation Company internationally. In March 1986, an association of Arequipa brothers Vito and Jorge Rodríguez Banda acquired the majority percentage of the shares of Gloria S.A. The brothers previously operated a transportation company in 1940 whose client was the Milk Company. Due to the change of owner, the company became independent and passed from the ownership of national shareholders, forming the Gloria Group.

With this acquisition, Soprole will join Gloria’s operations in Latin America, which include assets in several countries. Until now, Gloria operates Pil Andina S.A. in Bolivia, Switzerland Dairy Corporation in Puerto Rico, Gloria Colombia S.A.S. in Colombia, Milk Gloria Ecuador S.A. in Ecuador, Gloria Foods del Uruguay S.A. in Uruguay, Gloria Argentina S.A. in Argentina, and Milk Gloria S.A. in Peru.

Two more local dairies are getting out after another tough year.

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