American food producer Cargill Inc. is confident that the recent acquisition of Columbian chicken specialists Pollos El Bucanero will ensure continued growth in the Latin American Market.
The company is expected to invest up to $500 million over the next five years, after announcing the takeover for an undisclosed sum this month.
Before the deal was completed, Bucanero reportedly invested around $100 million to refurbish its production facilities and according to the poultry producer's website, up to 9 million birds can be processed every 70 days.
The company’s 5,000 employees will now work for the new business, which will form part of Cargill Protein Latin America, alongside the company’s additional operations in Costa Rica, Guatemala, Honduras and Nicaragua.
General manager of the new business will be Jorge Ivan Duque, who has spent 12 years working in the poultry sector in the region and he’s excited about the potential of the deal.
“Cargill is starting a new stage in Colombia, under the Bucanero brand, which is recognized and preferred by millions of customers across the country.
“Just like Cargill, this is a family business. We are confident that this will be a smooth integration and will lead to numerous benefits for our employees, customers and communities.”
Xavier Vargas, president of Cargill Protein Latin America, added: “Columbia is a very attractive country. As we enter this market, we bring the experience gained from working in protein across four continents for more than 50 years.
“This global presence, and our extensive work in other regions of Latin America, provides us a wealth of expertise in quality standards and an understanding of cultural taste differences.
“We look forward to delivering on the preferences of Colombian consumers and enriching their protein options.”