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Nestlé plans to exit the dairy industry in Ecuador through an agreement with Gloria Foods. Gloria Foods is a subsidiary of the Peruvian business conglomerate Grupo Gloria, which focuses on various sectors, notably the dairy products industry, boasting a strong presence in Latin America. In April 2023, the company initiated a strategic review process for its dairy and juice business. Consequently, an agreement has been reached with Gloria Foods for the sale of Nestlé's factory and distribution centre in Cayambe, as well as the transfer of ownership of local brands such as La Vaquita, Yogu Yogu, Natura, Cereavena and Huesitos to Grupo Gloria. Additionally, the agreement includes the licensing of more global brands La Lechera and Svelty. Josué De la Maza, executive president of Nestlé Ecuador, said: “We reaffirm the continuity of our operation in the country and will continue to offer Ecuadorian families delicious and healthy products in the following categories: culinary, biscuits and chocolates, coffee, infant nutrition, breakfast cereals, powdered modifiers, pet food and products for out-of-home consumption". "It is worth noting that in 2018 we acquired Terrafertil, an Ecuadorian company that has grown throughout Latin America with a leading portfolio in the plant-based category, which strengthens our product offering to Ecuadorian consumers. We are confident that Gloria Foods will continue to develop the dairy business in Ecuador based on its regional trajectory”. Claudio Rodríguez, president of Gloria Foods, said: “With this purchase, we renew our commitment to the Ecuadorian market as a relevant player in the food sector, and we welcome with enthusiasm the excellent team and the important brands that the acquisition of the operation brings with it. We are confident that this transaction will strengthen our portfolio in Latin America and will allow us to continue bringing our quality and expertise to the countries where we are present”. The transaction is subject to approval from the antitrust authority in Ecuador, with notifications being made within legal terms. Nestlé Ecuador will continue operating the business as usual "according to commercial needs".