Pipasa negotiating to buy Nicaraguan company for $24 million
The Costa Rican company Pipasa, owned by Rica Foods, has signed a non-binding letter of intent to buy Industrias Avícolas Integradas S.A. (Indavinsa) of Nicaragua.
Friday, June 27, 2008
Indavinsa is a producer of poultry products and poultry feed concentrates. It has 17 farms and nine distribution centers.
The U.S. company and owner in Costa Rica of Cinta Azul has completed the purchase of Corporación Pipasa.
The request submitted by Cargill for "authorization of a merger through the acquisition of Pipasa" has been approved.
Increased competition and rising production costs are causing firms in the sector to revive their production processes with new plants, equipment and electrical systems.
The entry of the U.S. firm has brought new investment by competitors.
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