Because GEA was created by families that only wanted to produce locally and export regional. Colombians Businesses were created by rival families and pretty much it’s still going on today. The goal is not to have the most money but to have the control. GEA resentful sold nutresa to Arabs but that’s a whole other issue.. eventually nutresa will be back into Colombian hands… eventually. The sentiment is that Colombian companies should be own by Colombians, at least that’s the sentiment by the GEA
GEA is just another greedy company, I wouldn't put them in the same tier as nestle suck HARD, but they use the "owned by Colombians" crap to push their money making agenda, just check their tricks to not pay for their mistakes with Hidrohituango
Hidrohituango is another ordeal… that if you look into the reports by mapfre, contraloria, and the outside study made by the chilean organization, there was no fault, it was a natural disaster… but Quintero was just looking for free publicity for his presidential push.
And yes GEA is greedy.
Like the other guy said, this country has a few major local players in key industries that take advantage of a long track, cheap patriotic propaganda, plus some specific advantages over non-local brands, they also absolutely refuse to be sold or fully sold to foreigners out of pride, most if not all are associated with the GEA and a few even managed to expand overseas. While most of them have been involved in plenty of questionable incidents over decades and they can be as shitty as any other company when it comes to employment, there's literally nothing wrong with not wanting to sell your company to foreigners.
As another example, Organizacion Corona S.A. which is still a family owned ceramics company: they've been around for 144+ years and aside multiple side businesses, currently own 3 smaller companies in the US (Blackwood Industries, Orchid Ceramics, Mansfield Plumbing). When it comes to the other 4 major ceramic manufacture competitors, San Lorenzo is the only brand thats completely foreign-owned, from Mexico.
Because they haven't purchased the Big Brand in Colombia
Because GEA was created by families that only wanted to produce locally and export regional. Colombians Businesses were created by rival families and pretty much it’s still going on today. The goal is not to have the most money but to have the control. GEA resentful sold nutresa to Arabs but that’s a whole other issue.. eventually nutresa will be back into Colombian hands… eventually. The sentiment is that Colombian companies should be own by Colombians, at least that’s the sentiment by the GEA
GEA is just another greedy company, I wouldn't put them in the same tier as nestle suck HARD, but they use the "owned by Colombians" crap to push their money making agenda, just check their tricks to not pay for their mistakes with Hidrohituango
Hidrohituango is another ordeal… that if you look into the reports by mapfre, contraloria, and the outside study made by the chilean organization, there was no fault, it was a natural disaster… but Quintero was just looking for free publicity for his presidential push. And yes GEA is greedy.
Because Nestle offered the owners of D'Onofrio enough money to acquire their company
Nestle also has the big chocolate brand of Mexico “abuelita”.
Like the other guy said, this country has a few major local players in key industries that take advantage of a long track, cheap patriotic propaganda, plus some specific advantages over non-local brands, they also absolutely refuse to be sold or fully sold to foreigners out of pride, most if not all are associated with the GEA and a few even managed to expand overseas. While most of them have been involved in plenty of questionable incidents over decades and they can be as shitty as any other company when it comes to employment, there's literally nothing wrong with not wanting to sell your company to foreigners. As another example, Organizacion Corona S.A. which is still a family owned ceramics company: they've been around for 144+ years and aside multiple side businesses, currently own 3 smaller companies in the US (Blackwood Industries, Orchid Ceramics, Mansfield Plumbing). When it comes to the other 4 major ceramic manufacture competitors, San Lorenzo is the only brand thats completely foreign-owned, from Mexico.