Alicorp Announces Acquisition of Intradevco

LIMA, PERU / ACCESSWIRE / January 31, 2019 / Alicorp S.A.A. (“the Company” or “Alicorp”) (Lima Stock Exchange: ALICORC1 and ALICORI1) a leading Peruvian CPG and B2B company announced today that its subsidiary, Alicorp Inversiones S.A., acquired 100% of the shares of Tecnología Aplicada S.A. (“TASA”), which holds 99.856% of the common shares of Intradevco Industrial S.A. (“Intradevco”). Total consideration paid for the transaction amounted to USD 490.4mm.

Intradevco, along with its iconic brands Sapolio, Aval, and Dento, is a leading Home & Personal Care player within the Andean region. Intradevco’s Estimated Revenues and Adjusted EBITDA for full year 2018 reached USD 205mm and USD 37mm, respectively. Estimated Revenues and Adjusted EBITDA for full year 2019 are expected to reach USD 215mm and USD 41mm, respectively.

The acquisition of Intradevco is in line with Alicorp’s Home & Personal Care business strategy of becoming the leading player within the Andean region.

Alicorp’s management will host a special conference call to review the strategic rationale and details of the aforementioned transaction. The call will be held on Friday, February 1, 2019 at 11:00 am Eastern/Lima Time. Details to follow.

About Alicorp

Alicorp is a leading CPG and B2B company headquartered in Peru, with operations in other Latin American countries, such as Argentina, Brazil, Bolivia, Chile, Ecuador, and exports to 22 other countries. The Company focuses on three core businesses: (1) Consumer packaging goods (food, personal and home care), in Peru, Brazil, Argentina, Bolivia, Ecuador and other countries, (2) B2B products (industrial oleaginous, industrial farinaceous and food service products), and (3) Aquaculture feed (fish and shrimp balanced feed).

Forward-Looking Statements

Certain statements contained in this news release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Alicorp’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Alicorp’s control that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by law, Alicorp does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time and it is not possible for management to predict all such factors.

INVESTOR RELATIONS CONTACT

Investor Relations Team
T: (511) 315-0800 Ext: 444411
E-mail: investorrelations@alicorp.com.pe

SOURCE: Alicorp S.A.A.

ReleaseID: 534106