Following the capture of Nicolas Maduro by the United States in early January, Colombia’s Grupo Nutresa, Latin America’s largest producer of consumer packaged foods, has launched an aggressive expansion strategy to reclaim its historic market dominance in neighboring Venezuela.
The company’s chairman, Gabriel Gilinski, and his father, CEO Jaime Gilinski, are moving to capitalize on what they described to Bloomberg as a “geopolitical lightning strike” that could transform the regional trade landscape.
The Medellin-based food giant, which currently operates at 60% capacity, has authorized a tripling of its monthly exports to Venezuela, targeting approximately $3 million in shipments for February 2026. This surge follows a month of preparation during which Nutresa purchased $500,000 in hard currency within Venezuela to ensure the repatriation of profits, a maneuver enabled by the US-directed revival of the country’s oil trade.
Nutresa’s leadership believes the availability of dollars represents a fundamental shift after years of shortages that saw their Venezuelan revenue collapse from a peak of $300 million in 2008 to just $14 million in 2025.
Nutresa plans a swift re-entry to Venezuela
Unlike other multinational firms currently evaluating the reconstruction of heavy infrastructure, Nutresa is betting on a “fast ramp-up” centered on light consumer staples. The company plans to flood the market with chocolates, cookies, ice cream, and coffee, primarily targeting a price point under $1 per unit. Chairman Gabriel Gilinski noted that the proximity of Nutresa’s newest plant in Santa Marta, which is just hours from the border, allows for immediate trucking of goods rather than the multi-year process of building local factories.
The potential windfall is significant for a nation whose economy plummeted by nearly 80% under Maduro’s regime, triggering an exodus of more than seven million people. While the political future of Venezuela remains uncertain under acting President Delcy Rodríguez, Nutresa’s executive team is targeting a long-term goal of $1 billion in annual revenue from the Venezuelan market.
This expansion is supported by the massive wealth of the Gilinski family, whose net worth is estimated at $35 billion following their $2.7 billion takeover of Nutresa, a deal that has seen the company’s share value rise by more than 1,300% since 2021.
Market dominance and global ambition
Nutresa already holds a commanding position in its local market, accounting for 50% of all packaged foods in Colombia and over 70% of the confectionery chocolate market. Its most iconic brand, the Chocolatina Jet, has become a regional touchstone, and management intends to use this brand recognition to squeeze out competitors and establish similar dominance in Venezuela. The company currently employs 47,000 workers across 45 factories in 18 countries.
By slashing $500 million in expenses, Nutresa aims to nearly double its profit margins by 2026, targeting a total revenue of more than $6 billion. CEO Jaime Gilinski has emphasized that the company is not looking to sell, but rather to grow its geographical footprint to rival global giants like Nestlé and Mondelez.
While the risk of a political reversal remains, the Gilinski family views the current opening in Venezuela as a rare opportunity to restore a trade partnership that once accounted for 20% of their total revenue.