Nestle, the Swiss consumer goods giant, has announced plans to exit the dairy and juice sector in Ecuador through a deal with Gloria Foods, a subsidiary of the Peruvian business conglomerate Gloria Group, for Ecuajugos. According to Gloria Foods, the deal includes a factory and distribution centre in Cayambe, the local brands La Vaquita, Yogu Yogu, Natura, Cereavena and Huesitos, and the licensing of the international brands La Lechera and …
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Gloria Group
Gloria Group, Peru’s leading player in milk and dairy products, has announced the closing of its subsidiary Ecolat Uruguay S.A. The Uruguayan company, which was acquired by the Peruvian conglomerate in 2012, was the second biggest exporter of dairy products in the country and employed 400 people. According to reports, the viability of the plant had been affected by the adverse financial climate, with the price of milk powder decreasing …
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