Grupo Nutresa agrees to buy Venezuela’s leading ice cream maker Tío Rico for about $30 million
Grupo Nutresa has signed an agreement to acquire 100% of Industrias Tío Rico, Venezuela’s leading ice cream producer, for about $30 million. The deal includes a plant in Guacara, five distribution centers and a portfolio controlling more than 55% of the Venezuelan market, but remains subject to closing conditions and regulatory approvals.
Nutresa takes a leading position in Venezuelan ice cream
Colombia’s Grupo Nutresa announced on July 21, 2026, that it had signed an agreement to acquire 100% of Industrias Tío Rico, Venezuela’s largest ice cream producer, for approximately $30 million. According to Infobae, Tío Rico holds more than 55% of the Venezuelan ice cream market, giving Nutresa an immediate leadership position in a category where the Colombian food group has already been expanding.
The contract has been signed, but ownership has not yet transferred. Infobae reported that completion remains subject to customary conditions agreed by the parties, regulatory approvals and other closing requirements. Nutresa has therefore announced the transaction but does not yet exercise effective control over Tío Rico.
The acquisition covers the company’s full portfolio, including Tío Rico, Bati Bati, Crema Real, Chocolito, Merengada, Rico Gol, Chocomalta and Tío Rico Trisabor. Chief executive Jaime Gilinski said the purchase continued Nutresa’s growth strategy in Venezuela and strengthened its presence in ice cream.
Industrial and distribution assets underpin the deal
Nutresa is acquiring more than consumer brands. The transaction includes a production plant in Guacara, Carabobo state, five distribution centers providing nationwide coverage and a 210,000-square-meter industrial complex. The combination gives the buyer local manufacturing, storage and delivery infrastructure in a market where product availability and route-to-market capacity are central competitive factors.
Nutresa expects the industrial platform to support operations beyond Venezuela, including Colombia, the Caribbean and the United States. The group has also explored export routes using plants close to the Colombian-Venezuelan border. The Guacara complex could therefore serve both domestic demand and a broader regional network, although the company has not disclosed production capacity or export targets for the facility.
Tío Rico traces its history to 1952, when the business was founded in Caracas as Helados Club. Grupo Cisneros acquired it in 1978 and introduced the Tío Rico name, before Unilever bought the company in 1994. Bloomberg previously reported that Unilever sold its Venezuelan ice cream business to Mack de Venezuela in a transaction effective from July 3, 2025, covering the Tío Rico brands, office and factory.
Venezuela returns to Nutresa’s growth agenda
Nutresa identified Venezuela and the United States as priority growth markets at the start of 2026. The group expects Venezuela could eventually account for as much as 20% of total sales. The country generated $14 million for Nutresa in 2025, still well below the historical period when Venezuela represented between 20% and 30% of group revenue.
The Tío Rico agreement is Nutresa’s fourth acquisition announced in Colombia, Ecuador and Venezuela between July 21, 2025, and July 21, 2026. The group took control of Ecuador’s Alimentos Yupi in June 2025 and later strengthened its snack business through Inversionista Alcora and Productos Yupi. In May 2026, it completed the acquisition of Colombian ice cream chain Mimo’s for 50 billion Colombian pesos, adding more than 200 outlets and a Medellín plant capable of producing over five million liters annually.
Nutresa also signed an agreement on June 19, 2026, to buy 100% of Ecuadorian chocolate and confectionery producer Universal Sweet Industries, known as La Universal. The price was not disclosed. Yupi and Mimo’s are already under Nutresa’s control, while La Universal and Tío Rico remain pending. If the Tío Rico deal closes, Nutresa will combine the market leader’s established brands and national distribution with its own regional food portfolio, making execution at the Guacara plant and across the five distribution centers the next test of its Venezuelan strategy.
