Costa Rican company Dos Pinos acquires Panama’s largest dairy company
Dos Pinos, the largest dairy company in Costa Rica, on Sunday announced its purchase of Nevada, a producer of milk and fruit juices in Panama.
This company was owned by Refrescos Nacionales, a subsidiary of Panama’s national brewery, which belongs to the multinational SABMiller.
The information was confirmed yesterday by Jorge Pattoni, Dos Pinos general manager, in a statement indicating that the agreement was signed on Jan. 18.
Nevada is located in Chiriqui, a Panamanian province bordering southern Costa Rica.
The acquired infrastructure has an installed capacity to process 100,000 liters of milk per day and produces whole, skimmed, semi-skimmed and flavored milk, and also fruit juices under the brands Nevada and Tutti Frutti Chiricana.
Dos Pinos described the acquisition as “strategic” and part of its foreign expansion plans.
According Pattoni, Nevada controls approximately 70 percent of the Panamanian milk market.
Dos Pinos, a 100 percent Costa Rican firm, has 600 different lines of products and exports some $84 million annually. Currently, the company exports to Central America, United States, Trinidad and Tobago, Dominican Republic, Cuba, Aruba and Venezuela, among others.
The transaction must receive the approval of Panama’s Consumer Protection and Competition Authority to be final.
You may be interested
Costa Rica investing $42 million for health facilities in GuanacasteAlejandro Zúñiga - July 22, 2019
Costa Rica's Social Security System (Caja), which manages the country's socialized health care system, announced Monday a $42 million plan…
Eighty-four Ticos participating in the 2019 Pan American GamesAlejandro Zúñiga - July 22, 2019
The 2019 Pan American Games begin Friday, July 26 in Lima. Eighty-four Costa Rican athletes -- 44 women and 40…
Slothy Sunday: Counting down to the 4th annual Sloth Ironman GamesZara Palmer / Toucan Rescue Ranch - July 21, 2019
Did you know that there is an internationally recognized holiday all about sloths? That’s right – there is, in fact,…