Mexican eats up Costa Rican meat
said on Thursday that it had acquired Costa Rica's leading producer
and distributor of processed meats, Embutidos Zar, for an
undisclosed amount.
The food unit of Mexican conglomerate Grupo Alfa, Sigma Alimentos, said on Thursday that it had acquired Costa Rica's leading producer and distributor of processed meats, Embutidos Zar, for an undisclosed amount.
Zar, one of the most important producers of processed meats in Central America, operates one plant in the Costa Rican capital of San Jose and has a nationwide distribution network, Sigma said in a statement.
The company said that Zar is projected to generate about $20 million (€20.3m) in sales in 2002. Sigma already distributes mostly Mexican products in Guatemala and El Salvador.
"This acquisition follows on our strategy of international growth for the company," Sigma president Francisco Garza said in the statement. "It is important in that it allows us an important operational base from which to expand our presence into Central America's southern regions," he continued.
Sigma produces and markets refrigerated and frozen food products under the FUD, San Rafael, Tangamanga, Yoplait, Chalet, La Villita and El Cazo Mexicano brands.
The company reported sales of $943 million in 2001.
