Chocolates Completes Pozuelo Acquisition

The food and beverages arm of Colombia’s largest conglomerate, GEA – Nacional de Chocolates – has completed the acquisition of Pozuelo, the Costa Rican cookie and juice subsidiary of Spain’s Ebro Puleva. Chocolates, together with local firm Florida Ice & Farm (Fifco) made an offer in May to pay $205 million for Pozuelo. The acquisition gives the buyers around 28% of the Costa Rican cookie market. Pozuelo distributes its products throughout Central America and the acquisition by Chocolates fits with the latter company’s strategy of consolidating its distribution base in the region.