Alimentos Kamuk, the Costa Rica-based sauce maker, is to build a production plant as it seeks to expand its product range.
Kamuk, part of local agribusiness company Grupo Pelon, exports 80% of its line of chili, soy and barbecue sauces, mainly to the US and neighbouring Central American countries.
The project, which has secured finance from German investment fund DEG, will see Kamuk extend into products such as pasta sauces and jams.
“The DEG investment enables an innovative medium-sized enterprise to grow further and to expand its product range,” the fund told just-food.
Last year, DEG invested EUR208m (US$262.5m) in food and agricultural services worldwide. In the last two years, the fund has spent EUR898m in Latin America across various sectors.