Alicorp has completed the acquisition of Flora Food Group's Latin American business for about US$150.5m, the companies said on 2 November 2026, eight months after the Peruvian group agreed the deal.
Why Alicorp S.A.A. (via Alicorp Holdco España S.L.U.) is buying Flora Food Group's Latin America business (Falcon TopCo S.A. and subsidiaries in Guatemala, Panama, the Dominican Republic, Colombia, Ecuador, Peru and Chile)
The deal gives Alicorp 19 brands, among them Rama in Colombia, Bonella and Dorina in Ecuador, La Perfecta in Panama and La Danesa in Peru, plus distribution of Country Crock in Central America and the Caribbean. The Cali plant will supply Colombia, Ecuador, Peru and Panama.
Deal terms and financing
Alicorp Holdco España acquired Falcon TopCo S.A. directly and the Flora Food companies in seven countries indirectly. Alicorp put the price at about US$150.5m for 100% of the shares, subject to adjustments; Flora did not disclose financial terms.
Regulatory approvals and timing
The agreement, disclosed to the SMV in March 2026, required competition clearances in several markets including Colombia and Ecuador. Completion has now taken place.
Market context
Flora Food Group, the former Upfield, is retaining its Brazilian and Mexican operations. Alicorp is part of Peru's Grupo Romero.
