Nutresa, Colombia’s leading food-processing company, ambitions expansion to the Middle East and India. Nutresa was bought last year by International Holding Co (IHC), a holding based in Abu Dhabi, United Arab Emirates.
Colombia’s Nutresa ambitions expansion into new markets, including Middle East and India
Jaime Gilinski, President and legal representative of Nutresa, stated in an interview with the local media outlet El Colombiano: “We are going to make Nutresa, without a doubt, the most global Colombian company—not only on the continent, in Central America, South America, and the United States, where we are today, but probably in other parts of the world as well. And to get there, we have everything needed to achieve it.”
He announced that the conglomerate is looking to expand into the Middle East and the Indian subcontinent, specifically into the UAE, Saudi Arabia, India, Pakistan, and Egypt in the medium term.
He also emphasized that the company has top-tier talent, strong brands, and cutting-edge technology, which will enable it to grow into a “very solid” enterprise.
During the interview, Gilinski said he is currently focused on “transforming Nutresa into a more efficient company,” a process he expects to take the next 24 months. He aims to accomplish this by “leading the company to transform EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), which was US$600 million last year, so that it can exceed US$1 billion in a short period.”
“We will achieve that through efficiencies, improvements in sales, and the elimination of unprofitable operations,” he explained.
Gilinski also expressed his ambition to expand further into the U.S. market. Nutresa already has significant operations in the country, valued at approximately US$750 million.
One of Colombia’s few billionaires, Gilinski owned Nutresa for years through the Gilinski Group before transferring majority shares to IHC.
Nutresa aims for global growth with original products and new brands
In the immediate future, Gilinski explained that the company is evaluating ways to enter the Mexican market. The strategy could involve acquiring American brands with a strong presence in Mexico or using Nutresa’s original brands.
In addition to Nutresa’s global ambitions, Gilinski said that he is “Always looking at opportunities of companies to purchase” as this is part of “his DNA.” He clarified, however, that he and his family, are currently focused on the conglomerate. “I made the decision to become the president of the company just two months ago; we have taken a family decision, one with enormous responsibility. It is a company that has over 50,000 people. We have 49 factories, operate in 17 countries, and have multiple business verticals,” he explained.