Peru’s Alicorp Expands As Family Owners Tighten Control
PERU · BUSINESS
Key Facts
- —What happened Grupo Romero, the family that runs Peru’s largest consumer-goods maker Alicorp, now holds about 85% of its shares.
- —How big Alicorp has spent more than US$350 million on acquisitions in Ecuador, Colombia and Peru since late 2025.
- —What it means The buying spree and a shrinking public float have fueled speculation that Alicorp could eventually leave the exchange.
- —The catch Alicorp has not announced any formal delisting plan despite its steadily shrinking public float of shares.
- —What comes next Alicorp secured a US$480 million loan on September 4 to help fund further regional growth.
Peru’s biggest consumer-goods maker is buying more rivals abroad as its controlling family’s stake keeps climbing.
Alicorp is Peru’s biggest maker of packaged foods and household goods. The Romero family that controls it just keeps adding new companies to its portfolio.
Grupo Romero has driven a wave of purchases for Alicorp since late 2025. It has spent more than US$350 million on deals in Ecuador, Colombia and Peru.
Peru’s Biggest Consumer-Goods Company
Alicorp began in 1956 as a small soap and oil maker in Callao, near Lima. Grupo Romero took control of the company in 1971.
It later merged with two rival millers and took the Alicorp name in 1997. Today it sells cooking oil, pasta and detergents across Latin America.
Grupo Romero is one of Peru’s biggest conglomerates, with roots in 19th-century hat exports. It also owns fuel retailer Primax, logistics firm Ransa and a stake in Peru’s largest bank.
The Romero family’s fortune was estimated at about US$5.5 billion in 2024. Alicorp remains its best-known consumer brand across the region.
Alicorp employs thousands of workers in Peru and nearby countries. Its products reach supermarkets and small corner stores across Latin America.
A Rapid Buying Spree
Alicorp bought Ecuadorean hygiene firms Jabonería Wilson, Disanu and Sanuss for about US$125 million in 2025. It then added Peruvian snack maker Inka Crops for roughly US$72 million in early 2026.
In August, Alicorp closed a deal for Unilever’s home-care business in Colombia worth over US$158 million. It also agreed to buy margarine brands from Flora Food Group across the region.
Alicorp secured a US$480 million loan from a group of global banks on September 4. The money will fund its expansion in Colombia, Ecuador and Spain.
Analyst Jorge Luis Ojeda says Alicorp is becoming a bigger player in Chile, Colombia and Ecuador. That diversification reduces its reliance on the Peruvian market alone.
Fewer Shares, More Questions
Grupo Romero’s stake in Alicorp grew from 64% in 2023 to about 85% by March 2026. That leaves a much smaller pool of shares for outside investors to trade.
Alicorp’s board also approved buying back up to 10% of its own shares in 2023. Each move narrows the float further, the kind of pattern that often precedes a company leaving the exchange.
Controlling families sometimes delist to cut paperwork and lower compliance costs. Alicorp has not announced any plan to leave the exchange, and no outlet has confirmed one.
Minority investors on the exchange are watching Grupo Romero’s next moves closely. Any future tender offer would need approval from Peru’s securities regulator.
More: Peru news in English, every day from The Rio Times.
Frequently Asked Questions
What is Alicorp?
Alicorp is Peru’s largest consumer-goods company. It makes cooking oil, pasta and packaged foods under brands like Primor and Don Vittorio.
Why are people talking about Alicorp leaving the stock exchange?
Grupo Romero now owns about 85% of Alicorp, up from 64% in 2023. That has fed speculation about a possible delisting, though nothing is confirmed.
What companies has Alicorp been buying?
Since late 2025, Alicorp has bought home-care and snack companies in Ecuador, Peru and Colombia. It also agreed to buy Flora Food Group brands and secured a US$480 million loan for more growth.
Sources: Bloomberg Línea, Gestíon, Moody’s Local, Peru Retail, El Comercio, Alicorp investor relations.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
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