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Mexico's Sigma buys Costa Rica's leading cheese producer

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(Globalpost/GlobalPost)

Mexico City, Apr 4 (EFE).- Sigma Alimentos, a unit of Mexico's Grupo Alfa, acquired Corporacion de Empresas Monteverde, Costa Rica's leading producer and marketer of cheese, Grupo Alfa representatives told Efe Thursday.

The deal, whose value was not released, will expand Sigma Alimentos's presence in Central America since Corporacion de Empresas Monteverde exports cheese to Nicaragua, Panama and El Salvador.

"Monteverde is the market-leading company in the mature cheese segment in Costa Rica, marketing them under the Monteverde and Lekkerland brands," which have "great prestige" among consumers, the Grupo Alfa representatives said.

Monteverde posted revenues of $26 million in 2012.

Sigma Alimentos operates in Mexico, the United States, Costa Rica, Guatemala, Honduras, El Salvador, Nicaragua, Panama, the Dominican Republic and Peru.

Grupo Alfa, a conglomerate with operations in 16 countries, has more than 56,000 employees and trades on the Mexico City and Madrid stock exchanges.

http://www.globalpost.com/dispatch/news/agencia-efe/130404/mexicos-sigma-buys-costa-ricas-leading-cheese-producer