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Los Grobo in the Media

May 07, 2019
Grupo Los Grobo will invest 100 million dollars until 2022
The company reported its intention to almost double its turnover in 2022, going from US $ 525 million at present to US $ 1.01 billion and reducing its debt.

Published in: iprofesional.com

The agroindustrial group Los Grobo will invest u100 million until 2022, will seek to reduce the group's debt and increase its turnover.

According to its president, Gustavo Grobocopatel, of that $ 100 million, more than $ 42 million will be invested in "information and management technologies and research and development."

"Considering the framework of high uncertainty and a strong reduction in capital flows in our market, the realization of this US $ 100 million capitalization constitutes a powerful signal regarding the shareholder confidence in the future of the Grobo" , said from the group entrepreneur.

In addition, the group reported its intention to almost double its turnover in 2022, from US $ 525 million today to US $ 1101 million and to reduce its gross debt from US $ 205 million to US $ 45 million in that year.

The group's CEO, Jorge Arpi, indicated the intention to carry out a "strong territorial expansion" that will consist of the opening of 16 more branches in the next 4 years and improvements in the Agrofina plant (agrochemical company of the group) located in the town of Zárate.

In the same way, they announced "changes in the operation of the trading area, a deep revision of the business portfolio, strong improvements in the processes of management control and integration of legumes in the core-business."

In 2016, the capital group Victoria Capital Partners entered the group, which, together with other smaller investors, controlled 74% of the shares of the company founded in 1984 in Carlos Casares.

Automatic translation from spanish.

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