Peru’s Alicorp buys Argentina’s TVB

Peruvian food and consumer products firm Alicorp has purchased Argentine personal care products manufacturer The Value Brand (TVB) for $65m. The acquisition will be financed through bank debt and is part of Alicorp’s expansion strategy in LatAm that started last year with the purchase of Ecuadorean ice cream maker Eskimo for $10.6m, Anthony Middlebrook, says Alicorp’s investor relations manager. TVB had sales of $100m in 2007, he adds.