Bogota, Colombia, August 31, 2010—IFC,
a member of the World Bank Group, is providing $20 million in financing
to Productos Naturales de la Sabana S.A. (Alquería), a leading milk producer
in the Andean region, to support its expansion into low-income and remote
Alquería will use IFC’s $15 million senior loan and $5 million equity
to modernize its production, improve efficiency, and develop new low-cost
and nutrition-rich dairy products for infants and children. The financing
will also help implement the company’s strategy to reach Colombia’s remote
areas. The company plans to expand its distribution of ultra high temperature
milk that does not require refrigeration and increase its supply of raw
milk. Alquería sources milk from more than 6,000 farmers and distributes
its products through 116,000 small shops.
“Alquería is proud to be partnering with IFC,” said Carlos Enrique Cavelier,
Alquería’s CEO. “We are confident that our combined strengths will be
the driving force for a positive development of our company and Colombia’s
Enrique Cañas, IFC Country Manager
for Colombia, said, “IFC’s investment in Alquería is in line with our
strategy to increase availability of high-quality nutrition products to
low-income people. It will also support the growth of Colombia’s agribusiness
sector to expand economic opportunities for local farmers and small businesses
along supply and distribution chains.”
Agribusiness is the third most important sector of Colombia’s economy.
It accounts for nearly 16 percent of the country’s exports, 13 percent
of gross domestic product, and employs about 22 percent of the workforce.
In this context, the dairy sector is vital and Colombia has established
itself as the leading milk producer in the Andean region.
IFC’s strategy in Colombia focuses on supporting sectors that are essential
to social and economic development, including infrastructure, health, education,
agribusiness, and public-private partnerships to build ports, roads, and
airports. IFC assists leading Colombian companies in modernizing
and expanding their businesses. IFC also promotes access to finance
for micro, small, and medium enterprises and works on improving the investment
climate by simplifying regulations and royalty management.
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in developing countries. We create
opportunity for people to escape poverty and improve their lives. We do
so by providing financing to help businesses employ more people and supply
essential services, by mobilizing capital from others, and by delivering
advisory services to ensure sustainable development. In a time of global
economic uncertainty, our new investments climbed to a record $18 billion
in fiscal 2010. For more information, visit www.ifc.org.
Headquartered in Cajica, Colombia, Alquería operates three plants in Cajica,
Cali, and Medellin that are certified to the standards for food processing
(ISO, HACCP, and Quality Check), with a production capacity of 1.1 million
liters a day. The company is one of the Andean region largest ultra-high-temperature
milk producer. It has a 26 percent share nationally and 66 percent of the
market in the Bogota region. During 2009, the company processed 276 million
liters of milk, which resulted in net sales of $230 million and net income
of $5 million. For more information, visit www.alqueria.com.co.