Alicorp has signed an agreement to acquire a number of Flora Food Group businesses in Latin America.

In a statement, the Peruvian consumer goods group said it would take control of Flora’s operations across seven markets in the region - Guatemala, Panama, the Dominican Republic, Colombia, Ecuador, Peru and Chile.

Financial terms were not disclosed.

The package also includes a manufacturing plant in Cali, Colombia, according to a separate statement from Simpson Thacher, Flora’s adviser on the deal. The transaction does not include Flora's operations in Brazil and Mexico, it added.

Headquartered in Amsterdam, the Netherlands, Flora is focused on plant-based spreads such as its namesake line, Becel and ProActiv.

Its Latin American portfolio includes brands such as La Danesa margarine, as well as Dorina and Bonella butter, according to another statement from Bustamante Fabara, the legal adviser to Alicorp for the Ecuador part of the deal.

Bustamante Fabara also confirmed the wider parts of the transaction across the Latin American countries.

However, Flora declined to comment on the deal when contacted by Just Food.

The cross-border acquisition will be carried out via Alicorp’s subsidiary, Alicorp Holdco España, the group said in its statement.

Completion is still dependent on obtaining regulatory clearances in the relevant jurisdictions, it added.

Alicorp manufactures and sells food, cleaning products and personal-care items, and is part of the Romero Group.

Its food portfolio includes AlaCena sauces, Primor oils, and Casino cookies.

The latest announcement follows its acquisition of Unilever’s home-care business in Colombia and Ecuador in January.

Alicorp reported its 2025 annual results in February. For the year ended December, it posted revenue from ordinary activities of 11.76bn new sol ($3.42bn), an increase of 11%.

Operating profit fell 3.9% to 1.03bn new sol.

Net profit from continuing operations fell 18% year-on-year to 446.5m new sol.

In another regional development, Saputo struck a deal to sell an 80% stake in its Argentina dairy business to Grupo Gloria, handing control of the unit to the Peru-based group.

Canada-headquartered Saputo will keep a 20% holding in the operation, Molfino Hermanos, which runs two production sites and owns local brands such as La Paulina, Ricrem and Molfino.