Grupo Gloria sells its dairy business in Puerto Rico
Sourse: dairynews.today
Grupo Gloria exits the Puerto Rican dairy market, selling Suiza Dairy to CC1.
Grupo Gloria, a major player in the Latin American dairy industry, has finalized the sale of its operations in Puerto Rico, including its UHT milk production plant Suiza Dairy Corporation located in Aguadilla, as well as assets of Suiza Fruit Corporation, which focuses on juice sales. The buyer is CC1, the parent company of Coca-Cola Puerto Rico Bottlers, through its subsidiary Suiza Caribe LLC. This transaction signifies a strategic shift for the Peruvian group, marking a notable change in the Caribbean dairy sector landscape.
Carlos M. de la Cruz Jr., a Cuban-American businessman leading the charge, now at the helm of Suiza Dairy, alongside Alberto de la Cruz, emphasizes the family's strong beverage business presence in Puerto Rico and the Caribbean. Their venture into dairy production represents a fresh influx of capital and perspectives for Suiza Dairy, a brand deeply embedded in Puerto Rican consumer culture. The departure of Grupo Gloria from Puerto Rico was influenced by local regulatory challenges that rendered the business inoperative last July. This move underscores the complexities of operating internationally, with local regulations often being pivotal in determining the viability of investments. The sale allows Grupo Gloria to adjust its global strategy and reallocate its resources to endeavors deemed more strategic. For Puerto Rico's dairy market, CC1's acquisition, a leader with significant distribution expertise, is seen as a robust boost. The introduction of an experienced player familiar with the local market is expected to rejuvenate the Puerto Rican dairy industry, enhancing the island's food security.
Particularly, the UHT milk segment is the fastest growing in the local dairy sector, positioning Suiza Dairy as a strategic asset for the new owner. The acquisition of Suiza Dairy by Suiza Caribe LLC is noteworthy for the future of regional dairy production. It illustrates the appeal of specific markets within the Caribbean and the willingness of local conglomerates to diversify their investments. For producers, industrialists, and sector analysts, this move highlights the industry's resilience, adaptability, and the vital role of local capital in sustaining and developing key supply chains in regions with distinct economic dynamics.
Carlos M. de la Cruz Jr., a Cuban-American businessman leading the charge, now at the helm of Suiza Dairy, alongside Alberto de la Cruz, emphasizes the family's strong beverage business presence in Puerto Rico and the Caribbean. Their venture into dairy production represents a fresh influx of capital and perspectives for Suiza Dairy, a brand deeply embedded in Puerto Rican consumer culture. The departure of Grupo Gloria from Puerto Rico was influenced by local regulatory challenges that rendered the business inoperative last July. This move underscores the complexities of operating internationally, with local regulations often being pivotal in determining the viability of investments. The sale allows Grupo Gloria to adjust its global strategy and reallocate its resources to endeavors deemed more strategic. For Puerto Rico's dairy market, CC1's acquisition, a leader with significant distribution expertise, is seen as a robust boost. The introduction of an experienced player familiar with the local market is expected to rejuvenate the Puerto Rican dairy industry, enhancing the island's food security.
Particularly, the UHT milk segment is the fastest growing in the local dairy sector, positioning Suiza Dairy as a strategic asset for the new owner. The acquisition of Suiza Dairy by Suiza Caribe LLC is noteworthy for the future of regional dairy production. It illustrates the appeal of specific markets within the Caribbean and the willingness of local conglomerates to diversify their investments. For producers, industrialists, and sector analysts, this move highlights the industry's resilience, adaptability, and the vital role of local capital in sustaining and developing key supply chains in regions with distinct economic dynamics.
