Tuesday 28 September 2021

Costa Rica 2013 Was A Year of Mergers and Acquisitions

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The sale of Monteverde to Sigma Alimentos for US$ 20 million is one of the most important transactions of the year.
The sale of Monteverde to Sigma Alimentos for US$ 20 million is one of the most important transactions of the year.

More than 30 mergers and acquisitions were registered in Costa Rica during 2013, with a recorded value of more than US$1.13 billion dollars.

Experts say mergers and acquisitions in 2014 will remain active.

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A report commissioned by El Financiero in Costa Rica from the Transactional Track Record (TTR), revealed that in 2013 the most significant deals were the purchase of Cafesa and Fertitec, by the the Norway’s conglomerate, Yara International; and the acquisition of by Costa Rica’s Dos Pinos of Panama’s Planta Nevada.

Other mergers and acquisitions in 2013 included companies like Montervere, Sigma, Incesa, Cablevision, Media Gurú, Bosz Digital, El Colon and El Lagar.

The TTR report indicates that the most dynamic sectors of the market are service and distribution, real estate and construction, and renewable energy.

In Costa Rica, transactions that involves companies with assets over US$15 million dollars must be reported to the Ministerio de Economia and tracked by the Comisión para Promover la Competencia (Coprocom) –  Commission to Promote Competition.

Coprocom says that only one deal is outstanding for this year, that of the international Colgate/Palmolive purchase of Costa Rican soap maker, Punto Rojo.

What’s in store for 2014?

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According to José Pablo Cordero, CEO of Invermaster consulting, he told EF that we can expect a continuation of consolidation by consumer companies in Central America through acquisitions.  “We also expect continued incursion of clusters in the South American region and in Costa Rica , due to the logistical advantages”, he added .

For its part, TTR is forecasting Dos Pinos to buy a Nicaraguan dairy, a capitalization of Gessa supermarket chain and the Brazil’s Ambev to buy up breweries in the region, Ambev already has a foothold in Guatemala.

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