Here’s a challenge for you, name just two global companies that originated in Latin America. Tricky, right? Believe me, it will get easier as time goes by and “multilatinas” spread across the world.
Back in January 2012 we wrote an article about multilatinas. To sum up, these are the large Latin America-born companies that have become truly global. But why do they matter to you? For those interested in expanding into Latin America, whether selling actuators, ebooks, weight loss programmes, legal services, or packaging solutions, here are the reasons why multilatinas just can’t be ignored:
1- They could be your competitors. And if you’re expanding into “their” territory, you’d better get to know them closely!
2- They could be your partners. Not just in Latin America, but globally.
3- They could be your clients. If you’re selling packaging technology, for example, you’d like to know who the mega food companies in the continent are. If you’re selling power solutions, energy-hungry multilatinas could be your main consumers. They are all successful companies working to international standards, so high-quality British products are likely to be favoured.
4- There’s an awful lot you can learn from their success, and failure, whether they are in your sector or not. They have spread across Latin America, after all, just like you’re trying to do. What lessons did they learn about different cultures, management syles, consumers, advertising, logistics, taxes…?
So who, you’re asking, are these companies? Here’s the top three:
1- CEMEX. Cement giant, from Mexico. In 50 countries. Did you know that the company operates in the UK…? “In the UK, CEMEX generates around £775 million in annual sales. In addition to readymixed concrete, cement and aggregates we also supply and install asphalt materials, manufacture concrete block pavings, rail products, bespoke pre-cast and concrete blocks”. Impressed?
2- GRUPO FBS Friboi. From Brazil, the largest animal protein processing multinational in the world. And it’s not just about food, they also operate in “leather, products for pets, biodiesel, collagen, cans and cleaning products”. 140 production units and 120,000 employees.
3- BRIGHTSTAR. A US/Bolivia company and the largest Hispanic-owned business in the US. What does it do? It’s the “world’s largest specialized wireless distributor and a leading global services company, serving mobile device manufacturers, wireless operators and retailers.”
In the top 80, there’s an impressive total of 18 Chilean multilatinas. But that’s another blog!
Keep coming back and also follow our company page on LinkedIn HERE.
For the full ranking please visit the America Economia website HERE.