Verónica Dairy Industry Faces Financial Turmoil with Bounced Checks and Mounting Debt

The Santa Fe-based dairy industry, Verónica, headquartered in Lehmann with additional plants in Suardi and Clason, is once again in financial distress. This February, the company recorded 143 bounced checks totaling 465.1 million pesos, according to the Central Bank of Argentina (BCRA).

Verónica's financial woes extend beyond bounced checks. The company is also burdened with a bank debt of 9212 million pesos. The largest creditors include Banco Nación (24.7%), CMF (16.7%), and Galicia (15.6%), among others.

Founded in 1923 by the Espiñeira family, Verónica Dairy entered a preventive crisis procedure in 2019, successfully restructuring its liabilities. Despite these efforts, the current financial pressures signal ongoing challenges for the dairy giant.

In the 2023/24 rankings by the Milk Chain Observatory (OCLA), Verónica stood ninth nationally, processing over 620,000 liters of milk daily.

The situation at Verónica mirrors the broader financial climate of the Argentine dairy industry. Mastellone Hnos, a major industry player, reported a substantial net profit of 37,719 million pesos for the nine months leading to September, highlighting the disparity in financial health within the sector.