Nestlé is to invest nearly £100 million into its Colombian growth expansion to upgrade production in the country over the next three years.
The iconic confectionary brand announced the investment during the inauguration of a new production line for the Milo brand at Nestlé’s Colombian facility.
With the funds, Nestlé will seek to expand its production capacity, advance its cultural transformation and innovation, and continue working towards the sustainability of its business.
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The company hopes to contribute to the construction of a “more prosperous society, aligning itself with the priorities of the national government in terms of generating opportunities for young people, building more peaceful communities and protecting the environment”.
Looking ahead to 2026, the new production line will receive an investment of $10 million, allowing Nestlé to increase its capacity by 40% and increase exports of its Milo product by 15%.
“What we have inaugurated is an investment of $13 million and an announcement of $100 million more. This means, these days, a demonstration of confidence in Colombia, in its future, undoubtedly, because these investments are not short-term, they are here to stay,” President of Colombia, Gustavo Petro said.
CEO of Nestlé Latin America, Laurent Freixe added: “The announcement of our investment strategy for the next three years has only one meaning: we believe in Colombia and its development potential”.
He continued: “This decision will allow us not only to continue strengthening our product portfolio and the industry, but it is intended as a strategy that transcends our business and that manages to align with some of the government’s priority points in terms of youth employability, promotion of human rights and construction of peaceful communities and is committed to developing concrete initiatives to reduce polluting emissions and take care of the planet.”
The news comes as Nestlé has appointed Richard Watson as its new CEO for UK & Ireland, as former chief executive Stefano Agostini moves to a new role after six years in the top position.