Arcor forms joint venture in Angola

The Argentine multinational Arcor, one of the world leaders in the confectionery, agri-food and packaging sectors with 2017 revenues of US $3 billion, has decided to invest in a new confectionery factory in Angola specialising in candy and cookies.

The project - which aims to supply the local market and to export products to the neighbouring countries of Congo, Namibia, Zambia and Botswana - will be carried out as a joint venture with Webcor, a Swiss-based grocery distribution company with operations in Angola.

The first stage of the investment will involve expenditure of US $45 million (€38.7 million), split equally between the two companies. The new facility will be Arcor’s first factory outside Latin America, where it employs around 2,000 people at 47 production sites, including 37 in Argentina and the others in Brazil (5), Chile (3), Mexico and Peru (1).

The operation is subject to approval by the competent Angolan authorities.