CSM Ingredients is expanding into Latin America. The company has entered into a strategic partnership with ICB, a leading global distributor specialized in the Chilean market. Through this collaboration, ICB becomes the exclusive distributor for CSM Ingredients’ products destined for Chilean customers.
“Entering the Latin American market is an important step for us at CSM Ingredients as our company evolves. To date, our company has had a strong footprint in Europe as a core market, but our global growth strategy is centred on scaling up our best practices and be competitive players in other areas of the world where our cross-category products can generate impact in terms of meeting and anticipating consumer trends,” CSM Ingredients chief executive Aldo Uva told FoodNavigator.
CSM: Investing for growth
Since the creation of its new business structure in 2021, CSM Ingredients has focused on ‘elevating’ its core offerings through investments in research and innovation, the creation of new category offerings such as plant-based and functional ingredients, and a ‘robust’ international expansion plan.
“In 2021, our company reported strong growth with revenues of €640 million. Even in the face of challenging global market conditions, our business is continuing to make investments to ensure growth,” Uva said.
“This is evidenced by activities that will help accelerate growth such as new market entries, acquisitions like Hi Food, the creation of strategic partnerships with start-ups such as Allozymes, and plans to add to our four innovation centres and four open innovation hubs, and much more.”