NEWS IN BRIEF
Grupo Lala invests $30m to build dairy plant in Guatemala, growing presence in Central America
The new plant will be located Escuintla, Guatemala, 31 miles outside of Guatemala City.
Dairy consumption in Guatemala is expected to continue to rise with drinking milk projected to register a CAGR of 4% through 2021. Yogurt grew by 16% in 2016 and is projected to grow by 10% annually through 2021, according to Euromonitor International data.
The announcement was made at the Guatemala-Mexico Business Forum where President of Mexico Enrique Peña Nieto reaffirmed Mexico’s economic commitment to Guatemala through continued reciprocal investments.
“There is a shared will by the governments of Guatemala and Mexico to combine our efforts and ensure that this brotherhood, friendship and fraternity among our nations, brings welfare and development to our societies,” Nieto said during the business forum.
"We want greater economic integration with the Central American region."
Expanding presence in Central America
Lala has been strengthening its presence in Central America and in May 2017 the company announced a $14m expansion of its plant in Costa Rica, tripling its daily milk production at the factory.
Lala expects to start distributing milk and ice cream products in Costa Rica by the second quarter of 2018.