The Mexican group has agreed to acquire 100% of the shares of the Nicaraguan company which has sales of $46 million a year.
From a statement issued by Grupo Lala:
Mexico City, on January 28, 2016 - Grupo LALA, SAB de CV, a Mexican company focusing on the healthy foods industry (BMV: LALA B), reports that it has entered into an agreement to acquire 100% of the capital shares of Productos Lácteos La Perfecta, S.A.
Lala Group intends to take advantage of the free transit of goods in Central America to produce and export milk from Nicaragua to the entire region.
The Mexican company Lala confirmed the positive performance of Nicaragua's economy, announcing its intention to turn the country into a production hub and to export dairy products to the rest of Central America.
The growth of food exports to Venezuela has got Nicaraguan producers excited, yet they are warning against backing this market excessively.
"Between January and May of this year, exports by volume from Nicaragua to Venezuela have grown by 209%, generating an exporter enthusiasm which has convinced all of the productive sectors, especially now that there are plans to halve red bean production over five years in order to plant more black beans", reported Laprensa.com.ni