Magazine | BBR - October 2022

TAFER HOTELS & RESORTS:

kind

that

difference (Mexico)

PRODUCTS INDUSTRY

GRUPO EFE (Peru)

A digital marketplace environment with support from a finance company

MADISA (Mexico)

Easy access to the best in heavy machinery and equipment

FEATURING

EDITOR’S LETTER

October 2022

Greetings! Q4 already began! Are you and your company about to meet your goals for 2022? We certainly hope so. Meanwhile, let us introduce you to the Grupo Lala Central America and Caribbean operation, led by Ana María Orozco, who is taking this Mexican company’s venture into new heights, leading the dairy industry in the territory. Further south in Peru, Grupo EFE has already built an impressive roster of companies, majoring in retail for both the brick & mortar and online options; its many outlets are supported by their own

financial company, creating a unique marketplace environment.

Planning your vacation already? How about spending the holidays at one of TAFER Hotels & Resorts properties in Mexico’s most coveted beach destinations? The TAFER Life program and Hotel Mousai’s expansion will make you crave for longer stays. Also in Mexico, MADISA keeps being Caterpillar’s leading partner in this territory, find out how!

Thanks for reading and thanks for sharing The Boston Business Review!

Mateo Rafael Tablado, Editor in chief for The Boston Business Review Email: rafael.tablado@thebostonbr.com

www.thebostonbr.com

Wholesome and nutritious dairy can help your business and satisfy consumers

Food manufacturers all around the world rely on Agropur for the cheese, ingredients and expertise they need to make a variety of delicious foods

Produced by Jassen Pintado

Creative Direction Omar Rodríguez

Agropur is a top 20 global dairy producer that processes more than 14 billion pounds of milk every year and makes more than 1 billion pounds of cheese. The company, founded in 1938, has 7,700 employees and 31 plants across Canada and the United States. It’s their goal to become the key dairy partner to the global food industry. Agropur partners with some of the world’s most prominent names in food, beverage and nutrition.

Agropur exports their cheese and dairy ingredients to more than 50 countries across Europe, Asia, Oceania, the Middle East, South America, Central America and North America. Although it’s a large company, Agropur takes great

pride in providing personalized and exceptional service to its customers wherever they call home.

Agropur operates international offices and warehouses in Europe and Asia. The company also has a multinational technical support staff who actively travels with its sales personnel to get to know their customers in their native languages and discuss future food projects. Each of Agropur’s international offices is staffed by knowledgeable individuals who are local to their regions to ensure toptier service. In terms of quality, their products are second to none.

The company’s office in Santiago de Queretaro, Mexico serves as an example of its strong dedication to businesses in Latin America. Agropur has taken great strides to

raise awareness in this region of the functionality of dairy ingredients and their value toward improving food and beverage formulations.

Agropur is one of North America’s largest cheese producers and their dedicated and experienced master cheesemakers have been well recognized for creating exceptional products for years. If you’re looking for the best tasting cheese for your products, the company offers several award-winning varieties that have consistently earned top honors at prestigious US and world competitions.

The company regularly produces 12 types of cheese with the capability of producing more than 20 different varieties. Sales and innovation teams work closely with customers to ensure products meet each company’s unique needs. Agropur’s innovators can develop cheese

recipes that meet unique specifications for flavor, texture and more.

The company is also a global leader in dairy ingredients and is one of North America’s largest producers of whey protein. In 2020, Agropur exported close to 185 million pounds of dairy ingredients – more than 4,200 containers -- ranging from commodities to the world’s purest protein products such as whey protein isolate, alpha lactalbumin and other fractions.

Agropur’s experts can help manufacturers develop new products or streamline their production processes. Its team of food scientists and technologists can devise solutions that improve product flavor and texture, increase shelf-life, boost output or achieve better sensory perception.

The company’s extensive line of dairy ingredients gives manufacturers

Agropur exports their cheese and dairy ingredients to more than 50 countries across Europe, Asia, Oceania, the Middle East, South America, Central America and North America

a wide variety of options for product improvement whether the goal is to lower costs or strengthen nutritional claims.

For instance, Crino® premium deproteinized whey from Agropur can reduce costs while providing a variety of additional benefits to food and beverage applications. It’s a versatile ingredient that has become increasingly popular among manufacturers in Central America.

Also known as dairy solids or permeate, it is a co-product of whey protein manufacturing that is rich in lactose and milk minerals. Premium deproteinized whey can be used across a range of formulations for benefits that include flavor enhancement and sodium reduction.

It produces better browning in bakery applications and its mineral content can improve the nutritional value in food and beverage applications.

Crino lactose enhances flavor and aroma, and is frequently used in formulations for confectionery, baked goods, tabletop sweeteners and more.

Lactose is a form of sugar found in milk that offers some important nutritional benefits.

Lactose has a lesser impact on dental health when compared to other sugars. It also has a relatively

low glycemic index, which may make lactose beneficial to those with diabetes. Lactose increases the absorption of minerals including calcium, magnesium and zinc. As an ingredient, Crino lactose provides significant value to food and beverage formulations. It’s an ideal choice to improve color and flavor in dressings, soups, sauces and baked goods.

Agropur is also a global leader in dairy ingredients and is one of North America’s largest producers of whey protein

Functional ingredient ISO Chill® 8010 has become popular in the ready-to-mix and sports nutrition categories. It is an instantized whey protein concentrate with a neutral flavor, cream coloring and free-flowing nature. It provides manufacturers with a high-quality protein that is made for increased solubility in cold liquids.

Agropur takes pride in its partnerships with respected customers, and when presented with formulation challenges, the team goes to work in creating individualized solutions.

Responsible manufacturing is a growing focus of any company and is especially important for Agropur as a food provider touching millions of people. The company is doing its part to advance sustainability with commitments that include

Agropur can provide products to businesses anywhere in the world

Net Zero emissions reduction by 2050. As a top-tier supplier, Agropur has the responsibility to meet the sustainability commitments of its customers.

While based in North America, Agropur can provide products to businesses anywhere in the world.

They have the size, scope and expertise to help food and beverage manufacturers develop and deliver products of the highest quality. Take a closer look at Agropur and you’ll see why it’s the dairy producer of choice to so many of the world’s most respected brands.

by Lenovo

Produced by Jassen Pintado

Creative Direction Omar Rodríguez

The changes experienced by society in recent years have shown that it’s everyone’s responsibility -including organizationsto make various efforts to contribute to the well-being of society and the environment. Currently, one of the main concerns is the search for

sustainability in an environment that is increasingly affected by climate change, environmental pollution and the different actions from mankind harming the ecosystem.

In this sense, organizations can also take part in this problem and contribute with diverse actions to

ThinkPad Z Series, the new family of laptops offering greater productivity, elegance and care for the environment

find a solution that favors everyone. According to PwC, “18% of CEOs in Peru consider that climate change will lead to new products and services”, and this is a reality that is already being experienced, since new products and services are emerging in technology seeking to contribute to the sustainability of society.

Lenovo, on its behalf, has just announced the new ThinkPad Z Series, made up of two modern laptops: the ThinkPad Z13 and the ThinkPad Z16. These devices are focused on providing productivity and efficiency, but also on caring for the environment since both are designed with eco-friendly materials. This launch is one of the many efforts that the tech multinational has been making in order to contribute to the well-being of the environment through products and services.

One of the ThinkPad Z13 and ThinkPad Z16’s main features is that both have been designed with recycled aluminum, vegan leather and various eco-friendly supplies. Also, the packaging is made from 100% recyclable and compostable bamboo and sugarcane, and the AC adapter uses 90% post-consumer content (PCC). Therefore, both devices contribute to sustainability and the protection of the ecosystem.

“We are totally proud of our new ThinkPad Z Series, this new series will offer productivity, efficiency, elegance and, above all, it will contribute to the environment. Innovation is in our DNA, from design and development to engineering and supply chain. We will continue to push boundaries, make changes, and work with close partners like AMD and Microsoft to deliver innovative, more secure products like the ThinkPad Z13 and Z16, designed

- Jerry Paradise, Vicepresident of Global Commercial Product Portfolio, Lenovo PC and Smart Devices

“We are proud of our new ThinkPad Z Series, this new series will offer productivity, efficiency, elegance and, above all, it will contribute to the environment”

to exceed customer needs today and in the future,” said Jerry Paradise, Vice President of Global Commercial

Product Portfolio, Lenovo PC and Smart Devices.

THE EXCEPTIONAL DESIGN OF THE THINKPAD Z13 AND Z16

The new ThinkPad laptop series

features stunning, disrupting designs, introducing new colors and materials to its range of premium business laptops. Its minimalist design provides a sophisticated and coveted look. Also, the displays are optimized with ultra-narrow bezels and productive 16:10 aspect ratios. On the other

hand, a larger 120mm crystalmade haptic ForcePad has been introduced, which flows seamlessly with a crystal touchpad for quick and easy input. Also, for those familiar with the red TrackPoint, you will witness new functionality: doubletap the TrackPoint to launch the Communication QuickMenu for quick access to common camera and microphone settings.

The goal of the new ThinkPad Z Series is to delight users with a distinctive look using recycled materials, deliver on the brand promise of an exceptional experience, and ensure great business-class

performance, security, reliability, and manageability.

EXCLUSIVE COLLABORATION

BETWEEN LENOVO AND AMD

For this new series, Lenovo and AMD have teamed up to deliver cuttingedge platform design, optimizing every aspect of the system from silicon to hardware to software.

The ThinkPad Z13, coupled with the exclusive AMD Ryzen™ 7 PRO 6860Z processor, offers an extraordinary collaboration experience. The processor is optimized to deliver transparent audio and video performance, maximize responsiveness, and deliver incredible battery life in apps like Teams and Zoom.

- Jerry Paradise, Vicepresident of Global Commercial Product Portfolio, Lenovo PC and Smart Devices

The ThinkPad Z16 can also be configured along the new AMD Radeon™ RX 6500M discrete graphics with AMD Smart Technologies, increasing productivity, enabling advanced content creation and casual gaming. When paired with Ryzen processors, AMD Smart Shift Max delivers an instant boost in power to both the CPU and GPU, and Smart Shift Eco is designed to maximize battery efficiency.

THE BEST OF TECHNOLOGY WITHIN YOUR REACH

The ThinkPad Z13 and Z16 have several features that make them the ideal choice for heavy workflows. Additionally, they are well suited to organizations with a growing staff who, as consumers, may not be very familiar with Windows-based devices.

In order to provide a complete and satisfying audiovisual experience, both devices feature vivid display options, including 2.8K touch OLED on the Z13

“We will continue to push boundaries, make changes, and work with close partners to deliver innovative, more secure products, designed to exceed customer needs today and in the future”

and 4K OLED on the Z16, both with support for Dolby Vision® and blue light reduction, plus a Dolby Atmos® speaker system and Dolby Voice® noise cancellation technology.

Also, both rely on the Communications Bar integrating an FHD camera with a larger sensor,

e-Shutter electronic shutter for privacy and dual-array microphones.

The ThinkPad Z13 and Z16 have the highest screen-to-body (STB) ratio in the ThinkPad portfolio: 91.6% (Z13) and 92.3% (Z16) and feature the new TrackPoint double-touch feature which launches the Communication

QuickMenu for quick access to camera and microphone settings. In conclusion, the new Lenovo ThinkPad Z13 and Z16 are ideal for providing greater productivity, elegance, comfort and, above all, greater care for the environment thanks to its eco-friendly materials.

Newell Brands and the Oster® leadership in Peru

Oster® has been a leader in the Latin American market for 75 years

Produced by Jassen Pintado

Creative Direction Omar Rodríguez

For decades Oster® has been a symbol of quality and trust, holding through the years as one of the most beloved brands in Peru.

At Newell Brands we are proud to maintain Oster® as the number one brand for small domestic appliances in Peru, being part of the daily lives of millions of families across the country.

The Oster® brand dates to 1924, when John Oster and his associates established the John Oster Manufacturing Company and marketed a hand-operated hair clipper. By 1928, the company introduced the first portable, motor-driven electric clipper. Over the next decade, this

successful company expanded its product line to include other personal care items. In 1946, Mr. Oster diversified from barber equipment to small electrical appliances with the acquisition of the Stevens Electric Company, which had invented the blender. Soon after, the first Osterizer Blender was introduced, and the Oster brand has since become a symbol of quality and style in the appliances and food preparation industry.

Even though the brand started in the United States, it has been very successful in Latin America. The Osterizer blender has been the leading

blender in the region since being introduced in the 1950s. Given its success, Oster® expanded its reach by manufacturing mixers, waffle makers and juice extractors. The brand found unique ways to connect with consumers and build brand affinity as one of the first appliance brands to introduce product demonstrations in the region.

In 1977, the Oster® Kitchen Center launched an all-in-one appliance that included blending, processing, juicing and meat grinding. The product was a success and is still present in many Latin American households nowadays.

At Newell Brands we are proud to maintain Oster® as the number one brand for small domestic appliances in Peru

The value held in the long run by the Osterizer blender, the company expanded its portfolio investing in other categories within kitchen appliances, coffeemakers, home environment and garment care. In 2009, Oster® launched the first rice cooker with the “sofrito” function allowing consumers to sauté ingredients in the same pot they prepare the rice. This was a groundbreaking innovation in Latin America as no other rice cooker offered this feature. Another Oster® innovation for this market is the Oster Prima Latte™ automatic milkbased coffee maker, which prepares cappuccino, latte and espresso at the touch of a button.

To celebrate the 75th anniversary of the Oster® Classic Blender in

2021, the brand launched a limitededition blender which includes a commemorative plaque, a vintage design and all the features of the classic blender. Oster® is currently among the best known and preferred small appliance brands in Latin America1.

Oster® leads the market share in Latin America due to the brand’s commitment to producing high-quality products that are built to last and also due to its receptiveness to consumer insights contributing to develop new products and innovations.

Besides being a beloved brand, recognized by many generations in Latin America, Oster® is also an icon in the region’s food culture.

Newell Brands (NASDAQ: NWL) is a leading global consumer goods company with a strong portfolio of well-known brands, including Rubbermaid, FoodSaver, Calphalon, Sistema, Sharpie, Paper Mate, Dymo, EXPO, Elmer’s, Yankee Candle, Graco, NUK, Rubbermaid Commercial Products, Spontex, Coleman, Campingaz, Contigo, Oster, Sunbeam and Mr. Coffee. Newell Brands’ beloved, planet friendly brands enhance and brighten consumers’ lives at home and outside by creating moments of joy, building confidence and providing peace of mind. Additional information about Newell Brands is available on the company’s www.newellbrands.com

1Source: Brand Perceptor. Blenders data. IPSOS. Q4 2017. Mexico, Colombia, Peru and Brazil.

Great efforts and traits to become a in the dairy industry

Produced by Jassen Pintado

Translation by María Murgui

Written by Mateo Rafael Tablado

Creative Direction Omar Rodríguez

Interviewee

Ana María Orozco, CEO for Grupo Lala Central America and the Caribbean

A Management with goals such as operational excellence through inclusion and process optimization by investing in sustainable initiatives make Grupo Lala a leader in the dairy products industry in Central America and the Caribbean

During its 70 years of existence, Grupo Lala, originally a Mexican company, has been bringing different dairy products and derivatives to millions of households. Lala installed the first pasteurizer in Torreon, Coahuila, in 1950, and in 1967 it began the commercialization of milk in carton packaging. In 1985 the Lala Foundation was created, this is the group’s branch providing nutritional support to disadvantaged communities focusing mainly on children.

Besides Mexico, Lala has expanded all over America by being present in Brazil, Guatemala, Nicaragua and in the USA. Globally, Lala products are manufactured in 31 production plants and are distributed from 173 facilities by more than 40,000 direct employees and with an estimation of providing Guatemala with 3,500 jobs ̶ both direct and indirect.

Entering in Central America

Lala began operations in Central America in 2008 acquiring the Foremost production plant in Guatemala and installing distribution centers in every department of the country, thus managing to cover the entire country, and becoming a leading company in milk and yogurt production during the last thirteen years. Brands such as Lala, NutriLety, and Foremost ice-creams are synonymous with nutrition and quality in the Guatemalan market. The latter are produced at the Palin Plant, in Escuintla. Lala also offers brands to specialized markets such as the children segment through Oh Lala, Lala Kids, and Lala 100, a lactose-free product.

Regarding Nicaragua, Lala made its way into this market in 2014 by integrating the Eskimo brand with Grupo Lala, and afterwards by investing in the construction of the

Grupo Lala Central America and the Caribbean

- Ana María Orozco, CEO for Grupo Lala - Central America and the CaribbeanCaribbean

Making high-quality and highly nutritious food available is something we are passionate about

San Benito Plant in 2015. A year later the La Perfecta brand was included in the strong Lala portfolio, thus becoming the leading company in dairy products such as milk, ice cream, and yogurt in the Nicaraguan market, supplied by San Benito and Altagracia Plants.

“Making high-quality and highly nutritious food available is something

we are passionate about”, commented Ana María Orozco, CEO at Grupo Lala for Central America and the Caribbean.

An outstanding career in mass consumption

Ana María Orozco graduated in Business Administration, specializing in Strategic Marketing from the

Grupo Lala Central America and the Caribbean

CESA University (College of Higher Management Studies). Her broad experience in more than 25 years in mass consumption global companies makes her the perfect leader for Lala operations in Central America. Her career highlights include her time in Unilever ̶for 11 years̶ and AB InBev, leading different business areas, Non-Alcoholic Beverages

among them, achieving results by fulfilling high standards, strategic plans, the creation of brands’ values, and cultural transformation.

Orozco has been part of Grupo Lala since 2019, overseeing Central America and the Caribbean regions, running three plants and 1,900 employees.

Permanent operational excellence

Ana María Orozco’s arrival at Lala Central America and the Caribbean has resulted in the optimization of the group’s operations in the territory, which can be seen in a double-digit growth in sales during the last three years.

To achieve these results, the division underwent a restructuring

of the model of the route to market, a change in the mixture of products in the portfolio ̶ thus focusing on high-contribution value categories̶-, a portfolio reduction, increasing available items and through geographical expansion, among other factors which led this division to operational excellence.

Currently, the company keeps working on the development of

Tetra Pak is a world leader in food processing and packaging solutions.

We offer safe and innovative products, we believe in responsible industry leadership and a sustainable business approach. Our vision is to make food safe and available everywhere.

us

innovations for the consumer and operating with flexibility, which enables the company to face macroeconomic situations allowing Lala to become its clientele’s preferred company.

Supportive investments since the get-go

Lala Central America has invested in its production line and innovating int its regional product portfolio.

The company invested in a production line for the 31.75 oz smoothie yogurt in Nicaragua. And recently, in Guatemala, it raised the stakes by deploying a UHT line for the Lala milk manufacturing process. Besides, for this market, the distribution fleet was renewed, getting the product closer to clients and consumers. The company’s most outstanding investment is undoubtedly the $30 million allocated

to the construction and beginning of operations of the Palin Plant.

Innovative products making a difference in the market

Lala has increased its portfolio after researching the different options the market presents according to restrictions or specific diets and even its consumers’ age:

• Within the Lala 100 line, the Lala 100 Lactose-Free variety stands out, it’s the first and only milk in Guatemala produced through an ultrafiltration process, patented by Lala, keeping the milk’s original flavor. This line also offers Lala 100 Protein, a variety providing 70% more natural milk protein and 30% more calcium.

• The Lala Kids yogurt line was developed for children ̶ this line includes the special edition Lala

Kids Minions packaging, related to the movie saga and easy to open̶ , as well as dairy products NutriLety, Bolsileche, Foremost ice-creams, and Oh Lala flavored milk (available in chocolate, strawberry, and vanilla), thus also reaching the ‘tweenie’ segment in Central America by offering a product which is enriched with 100% cow’s milk and nutrients such as vitamins A, D, B1, B2, B5, folic acid and zinc.

“Our priority is to offer high-quality products with leading-edge technology and trends from the beverage sector that help fulfill the needs of the contemporary consumer”, the executive pointed out.

Important developments along with suppliers

The dedication and standards

level of the main Lala Central America suppliers has been a key factor to generate improvements in different aspects of its production chain.

Tetra Pak is one of the most renowned partners when supplying the ‘brik’ aseptic carton package (and by innovating over the years, thus making Lala the first company to introduce the ‘Edge’ format in Central America.

Technofilms, on its behalf, supplies materials with a sustainable innovation strategy, by reducing the plastic quantity to save an average of 9% in this material, which means a lesser impact ong the environment caused by plastic.

Most of the Grupo Lala Central America products contain dairy solids supplied by Agropur, a company of American origin that provides highquality dairy solids.

Grupo Lala Central America and the Caribbean

- Ana María Orozco, CEO for Grupo Lala - Central America and the CaribbeanCaribbean

Grupo Lala seeks to promote and establish good practices that improve productivity and quality, as well as achieving a cleaner production

For the ice cream lines in Guatemala and Nicaragua, Lala has worked with Plásticos Modernos for more than 25 years, which is currently developing sustainable packaging materials for the Lala products, thus allowing the use of packages that use up to 30% of resin.

On the other hand, the Research & Development Department at Grupo Lala Central America works hand in hand with suppliers to generate efficiency and organize the “Innovation Day” annual event, where an exchange of the company’s most important needs and possible solutions are are presented.

Contributions to the region’s livestock development

Grupo Lala tries to establish and maintain close relationships with those who are part of its value stream. Currently, its primary producers

network in Guatemala and Nicaragua consists of more than 3,000 cattle breeders.

In 2018, Lala started the suppliers’ ResCa Project Nicaragua (Resilient Central America) development program to generate endurance in the livestock sector before consequences from climate change may arise, by implementing silvopasture systems and good practices for livestock.

Also in Nicaragua, The Nicaraguan Dairy Products Industry Development project was created in 2019 with the purpose of optimizing the quality in milk production quality and the producers’, collectors’, and cooperatives’ profitability, as well as for the Grupo Lala’s supply chain. The two projects include 1,700 livestock farmers, 70 farms, 10 dairy products cooperatives, and nine direct suppliers.

“Grupo Lala seeks to promote and establish good practices that improve productivity and quality, as well as achieving the lowest loss or product’s refusal levels, but especially achieving a cleaner production”, Orozco declared.

Inclusion as another hallmark

Undoubtedly, opening the inclusive factor in Lala Central America has generated a positive impact beyond

fulfilling good working practices.

Currently, Lala Central America’s women employees mean 16%, and 34% of the management positions are held by women, besides 37% of the Executive Committee.

It is a woman who runs the Altagracia Plant, a role that has been traditionally performed by men. Her performance has been outstanding, thus achieving extraordinary results.

“Since I was appointed as CEO,

I resolved to increase women’s participation in the professional framework. I am proud of these numbers, and I expect to continue promoting women’s growth within the company”.

Committed to nutrition

Grupo Lala works along with the private sector and the local government to eradicate child undernourishment in Guatemala.

Grupo Lala Central America and the Caribbean

- Ana María Orozco, CEO de Grupo Lala Central America and the Caribbean

I resolved to increase women’s participation in the professional framework. I am proud of these numbers, and I expect to continue promoting women’s growth within the company

Campaigns for this purpose are constantly being carried out, having donated bags with provisions to ice cream vendors, thus benefiting over 1,000 families. The “Collective Impact for Food” program was implemented for two consecutive years in collaboration with Walmart. And along with Kellogg’s, the company took part in a strategic partnership named Better Days to Grow Together, which includes an educational and integral program designed to support families by favoring their food security through a close accompaniment with the communities. In 2022, Grupo Lala has supported 1,000 children from over 20 communities in Chimaltenango, Guatemala.

been recognized after having saved more than 39 billion gallons of water in 2021.

“Grupo Lala has always been a responsible company, with high standards, passionate to produce high-quality products, to improve nourishment, and all this has been possible with a talented human team, committed to the company’s goals”, concluded Ana María Orozco, CEO for Grupo Lala - Central America and the Caribbean.

FOUNDED:

1950 (en Mexico)

Towards a sustainable future The goals to be fulfilled in 2022 include the growth and implementation of technology that will allow to keep working sustainably, thus generating scale economies. In Guatemala, Grupo Lala’s duty regarding sustainability has

INDUSTRY: Food & Beverage

CONTACT:

www.lala.com.gt/somos-lala lala800@grupolala.com

www.thebostonbr.com

José Antonio Iturriaga, CEO at Grupo EFE

The great ecosystem

RETAIL & FINANCE Produced by Jassen Pintado

Creatived Direction Omar Rodríguez Translation by María Murgui Interviewee

Sustained growth and strategic investments have made of Grupo EFE an enterprise with a hybrid model and a large following in the Peruvian e-commerce environment, relying on the support of its own financing entity for its customers

F or more than 60 years

Grupo EFE has been part of the Peruvian market, becoming a retail holding that includes Tiendas EFE, La Curacao, Motocorp, Financiera Efectiva and Juntoz, reaching an income over S/2,000 million (more than $500 million).

Its staff’s safety and well-being are the company’s absolute priority. This fact is shown in the most recent ranking carried out by Great Place to Work, in which the group reached the fifth position as the best company to work for within the country, the third position as the best company to work from home and the first

Grupo EFE

position as the best company living by its core values.

Its purpose is to fulfill its customers’ and collaborators’ dreams through innovative experiences and solutions.

LEADERSHIP: THE IMPORTANCE OF A SOLID CAREER IN FINANCE

José Antonio Iturriaga Travezán earned a B.A. in Law and Political Sciences from the Lima University (Peru) and also earned an MBA from Piura University (Peru).

He is currently CEO at Grupo EFE. Before that, he had worked as General Manager at Financiera Efectiva.

Along his career, he worked in the international division at Scotiabank as a Distribution, Sales, and Clients Experience Vice-president at Scotiabank Peru, and was a member of the Board of Directors at Scotiabank in El Salvador. He was also the CEO at Financiera Crédito Familiar in

Mexico, country head in Guatemala for Scotiabank, and general manager at Banco de Antigua in Guatemala.

PHYSICAL AND VIRTUAL PRESENCE ACROSS PERU

Grupo EFE offers services and customized counsel through its companies in its brick and mortar stores, as well as in its and virtual outlets. Besides, the company has increased its presence with strategic partnerships. Following that path, it has completed its eco-system by setting up a marketplace.

• EFE Stores and La Curacao. These companies provide a wide variety of tech products and household and comfort appliances for Peruvian households with the best purchase options. Currently, both have brick & mortar and online stores.

• Motocorp. This countrywide chain specializes in multi-brand motorbikes and mototaxis, Honda among them, as well as its own brands, offers a wide range of products with accesible prices, catering to small businesses in the transportation industry.

• Financiera Efectiva. This is

- José Antonio Iturriaga Travezán, CEO del Grupo EFE

“OUR PURPOSE IS TO FULFILL OUR CUSTOMERS’ AND COLLABORATORS’ DREAMS WITH INNOVATIVE EXPERIENCES AND SOLUTIONS”

undoubtedly an excellent complement to Grupo EFE’s retail operations, as the financing entity specializes in consumer loans, that is, below S/5,000 (approximately $1,300). Thanks to its strategies it has become the second banking entity in the country.

• Juntoz marketplace. With this new acquisition, Grupo EFE complements its current e-commerce offer, and thus consolidates its digital ecosystem. Besides, Juntoz set the goal to reach a new customer sector with several needs by offering them new products and services that complement what the holding currently provides.

GROWTH: A PERMANENT TRAIT IN THIS STORY

Along its lifetime, the company has grown organically through the development of different sales channels and the products it offers, as well as by acquiring and developing new companies.

This strategy has allowed Grupo EFE to achieve an important presence nationwide, with more than 240 stores in all the cities with a population over 50,000 and it is optimizing its coverage through online sales.

This story of success started 29 years ago when the current stockholders acquired eight stores in some cities.

In 2011, the group became involved in the equity market with Financiera Efectiva through bond issues and Certificates of Deposit, being largely accepted and reaching the issuance of more than S/440 million ($112 million). Additionally, the company obtained a S/1,100 million ($286 million) gross portfolio up to June, thus having a great projection for the year’s closure.

In 2012 they acquired La Curacao and launched Motocorp, a company focused on selling motorbikes and mototaxis.

This year, Grupo EFE has kept its sustained growth, which has allowed

Newell Brands’ beloved, planet friendly brands enhance and brighten consumers lives at home and outside by creating moments of joy, building confidence and providing peace of mind.

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it to continue growing its presence and to complete its ecosystem by incorporating Juntoz marketplace.

“Our purpose is to fulfill our customers’ and collaborators’ dreams with innovative experiences and solutions”, highlights Iturriaga.

INVESTMENTS SUPPORTING EVERY FRONT

One of the greatest Grupo EFE’s best decisions is to firmly invest in everything which can contribute to

each business unit’s continuity, but also by finding out how to optimize its operations according to current commerce demands worldwide.

Currently, all the companies in the group are undergoing a digital transformation process in which more than S/80 million ($20 million) have been invested, aimed at developing a true digital ecosystem.

Grupo EFE has been relying in the country’s potential by opening 50 stores nationwide since last year

- José Antonio Iturriaga Travezán, CEO del Grupo EFE

“WE WORK BY FOCUSING ON OUR COLLABORATORS. KEEPING IN CONSTANT CONTACT WITH THEM HAS ALLOWED US TO IMPLEMENT KEY ACTIONS AND BENEFITS TO INCREASE OUR PEOPLE’S COMMITMENT”

Grupo EFE

with an approximate investment of S/10,000 million ($2,600 million) in different formats such as traditional, express, low-cost, and malls.

Since 2017 it has invested more than S/44 million ($11 million) in digitalizing Financiera Efectiva, thus covering the acquisition and installation of special hardware for information systems, digital analysis tasks, machine learning, artificial intelligence, automation, and thousands of training hours. In 2021, the entity renewed its technological platform for front and back office, taking it to a world-class level which currently supports the company in the launching of new products and services.

ESTABLISHED AND UPCOMING SUPPLIERS EXPERIENCING CONSTANT GROWTH

Conecta Retail suppliers with a higher billing are global manufacturing and

household appliances companies. Many of them are represented locally, such as Samsung, LG, Lenovo, and HP.

This does not prevent the holding to have its own brands as Bord, Nooz, Jettor, and Furgo, supplied by factories in China, as well as working with local suppliers with a lesser turnover, who take part in the “Green Supplier” program and are favored in Tiendas EFE, La Curacao and Juntoz e-commerce stores.

REGULAR CONTACT WITH COLLABORATORS AND THEIR BENEFITS

Communication within the Group is key at every level in the organization. In this sense, the company holds frequent meetings with detailed purposes: monthly communication meetings (actions and results), breakfast with leaders, weekly executive committees, and Pepino

Comunica (‘Pepino’ being a short form for José, as in José Antonio Iturriaga). There’s also a Facebook community named #Efexionales where all the collaborators can share information and be informed.

Grupo EFE’s staff and their families have health services 24/7, their children have incentives to achieve excellence in their performance at

school, and, among the 42 benefits they receive, we can mention days off and receiving household appliances as prizes as well as family trips.

“We work by focusing on our collaborators. Keeping constant contact with them has allowed us to implement key actions and benefits to increase our people’s commitment”, Iturriaga emphasizes.

Together we make life easier

At Imaco we have been facilitating and improving people’s lives for more than 100 years. We believe that through the design, development and production of articles and solutions for the home we can have a better quality of life and enjoy more with our loved ones.

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The design, quality and technology of our

have stayed with you all these years making your day-to-day life easier, giving the confidence you need to live unique

Years

This relationship has led Grupo EFE to be included in the Great Place to Work ranking since 2019. In the latest edition, the group reached the fifth position as the best company to work for in the country, the third position as the best company to work for from home and the first position as the company which most lives its core values.

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A STEADY RELATIONSHIP WITH CUSTOMERS

The acquisition of Juntoz marketplace and the digital transformation process in each one of the companies that are part of Grupo EFE has been carried out with the goal of offering goods and services in an easy and fast way. For example, these new products and financial services that Financiera Efectiva offers, such as CTS, saving accounts, online banking, and payment methods, among others, have created a unique retail and finance habitat.

“Our main purpose is to become a “retail ecosystem” which allows us to be present in our customers’ minds, to achieve this we will generate a relationship with them by which we will offer services, insurance, and a wide range of products which allow us to pay attention to their needs” pointed out José Antonio Iturriaga Travezán, CEO at Grupo EFE.

in portfolio and aftersales services

Carterpillar’s key ambassador in Mexico always finds a way to optimize its offer as well as its services and aftersales support, thus being honored as “Dealer of Exellence” for the third consecutive year

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Creative Direction Omar Rodríguez

Maquinarias Diesel (MADISA) has been offering high-quality equipment and machinery to different industries in Mexico since 1946. After joining the Delta S.A. group in 1981, MADISA obtained the strength and support that have resulted in sustainable growth, thus currently operating from 84 branch offices in the North-Eastern, Center, Southern and South-Western regions in Mexico. It provides more than 3,700 jobs -including more than 700 sales advisors-, offering more than 80 leading brands available through an over $100 million replacement parts and items stock. MADISA is synonymous with Caterpillar in Mexico. Thanks to the efforts and dedication of the company it has been possible to count with cutting-edge technology equipment

to carry out projects of any scale, including important infrastructure works within the country.

A WIDE PORTFOLIO SUPPORTING MULTIPLE INDUSTRIES

Currently, MADISA offers new machinery and used equipment for sale, rent in different installments as well as financing, besides repair and maintenance services, extended warranty, a wide range of replacement parts, technical support, and condition monitoring, just to name the main items. These products, services and conveniences have benefitted construction, mining, quarries and aggregates, manufacturers, waste disposal, steel and foundry, energy, oil & gas, marine, transportation, farming, commercial and contracting sectors, among others.

INNOVATIVE AND CUTTING-EDGE SHOWCASE

MADISA has become a strategical supplier for its clients by being -in numerous occasions- the company bringing the latest technology in machinery and technical equipment to Mexico. Recently, MADISA has brought to the country equipment which provides a better performance,

which is more economical and less polluting regarding energy consumption, as well as autonomous equipment and unit monitoring, as well as monitoring for preventive and corrective maintenance events.

Besides the auxiliary equipment, among the outstanding new products offered by MADISA we find the Cat 320GX Excavator, which possesses

the aforementioned features regarding performance and cost reduction, including a reduction up to 20% in maintenance costs.

Another new arrival is the AP255E Asphalt Paver with a C4.4 engine, ECO mode, undercarriage with tight turning radius wheels, manual platform elevation to make the cleaning of materials easier. CAT F

Series Pavers also stand out.

Among the most recent products in the MADISA portfolio we find electricity generators for businesses, which provide great independence along with customized solutions to allow an uninterrupted operation, and which greatly benefit data centers. These solutions use clean energy resources, such as the installing of

ONLINE SOLUTIONS

CONSTANT ADVANTAGES AND CLOSE RELATIONSHIPS WITH CLIENTS

warranty, and delivery service for replacement parts. In addition, MADISA periodically organizes seminars dealing with specialized issues about replacement parts and services in its market’s different locations, establishing direct contact with its clients to know their concerns and needs much better.

“DEALER OF EXCELLENCE”

The Logisnext forklift manufacturing company, which works with brands such as Cat® Lift Trucks, Mitsubishi Forklift Trucks and Jungheinrich®, awards the “Dealer of Excellence” honor to those distributors providing a superior service to their clients as well as innovative solutions. In 2022, MADISA was awarded this honor for the third consecutive year. Attributes such as the product availability, maintenance services, monitoring and replacement parts availability mean a difference and advantage for MADISA over the competition.

Unique experiences join luxury and excellence in service

“All of our resorts offer romantic getaways, spectacular and spacious luxury suites and residences, and many more in the best beach destinations in Mexico,” commented Susana Ramírez, Corporate Director of Sales and Marketing for TAFER Hotels & Resorts.

OPENING TO THE JOY AND POSSIBILITIES OF TAFER LIFE

The concept of TAFER Life is a series of experiences available for guests. These are more than a gamechanger, providing different activities that surpass any other regular stay somewhere else.

Wellness becomes one along with luxury, aesthetics and astonishing views

TAFER

TAFER Life is supported by five main pillars:

• The Art of Living. Becoming present to enjoy the moment with family and friends. Fun activities for everyone, no matter the age. Feeling welcome, at home, embraced by Mexican hospitality at its finest.

Customization for guests providing them what they want to enjoy, when they want it, provided by TAFER’s experienced staff.

• Love Affair. The bliss of romance in every corner, sharing sublime moments with that special someone. Beauty in every view around

natural landscapes within TAFER’s destinations.

• Tastebuds. Culinary/gourmet experiences in and off-restaurants, with dishes boasting delicious flavors from the innovative farm-to-table cuisine of TAFER’s in-house and guest chefs. Being the setting of unforgettable events and celebrations in spectacular fashion

• Blue and Beyond. TAFER Life is about discovery by experiencing Mexico’s people and culture as well as its seascapes. The Pacific Ocean, the astonishing Caribbean Sea and the Sea of Cortés are the setting for unique aquatic adventures as well as other locations provide opportunities to explore coastal jungles, deserts and mountains.

• Wellness. World-class fitness

facilities and wellness programs for every level and style. Relaxing environments in unique locations offering exclusive pampering treatments for TAFER properties’ guests.

TAFER Life offers experiences like birdwatching, hiking trails, in-suite tastings with private chefs, kayak rides in reserves, scheduled movie nights in a big screen with the sea as the background, scuba diving, snorkeling and yoga classes among many other activities. The difference is that guests can opt to take part in these activities for free, instead of having to pay for them, as is the case when staying elsewhere.

“TAFER Life is about providing guests with extraordinary experiences while staying at any of the group’s

TAFER Hotels & Resorts

- Susana Ramírez, Corporate Director of Sales and Marketing for TAFER Hotels & Resorts

All our resorts offer romantic getaways, spectacular and spacious luxury suites and residences in the best beach destinations in Mexico

Hotel Mousai opened its South Tower and it’s expanding in Vallarta, and Hotel Mousai Cancun is currently under construction

Mixology Class, Beer Tasting, Wine Tasting, Tequila Tasting

HOTEL MOUSAI: UNIQUE, SENSUOUS ATMOSPHERE

Puerto Vallarta is host to Hotel Mousai, which blends all the elements to take designer hotels to the next level for guests 16 and over.

Hotel Mousai’s comfort and aesthetics fusion elements to create the property’s personality through every corner.

The South Tower recently opened with 72 suites, increasing Hotel

Mousai’s inventory to 145. The South Tower suites have king-size beds and connecting doors to create twobedroom suites for larger groups. Mousai corner suites’ terraces offer astonishing views of the ocean or the jungle. Ultra suites on top floors also offer amenities such as: butler service, free access to the spa’s hydrotherapy circuit, as well as pillow and aromatherapy menu. The South Tower also includes a brand-new gym with all the latest fitness machines, weights, a yoga room, showers, lockers, and, of course, spectacular jungle views.

Garza Blanca - Cancun

TAFER

Hospitality

- Sasa Milojevic, COO for TAFER Hotels & Resorts

TAFER Hotels & Resorts is poised to become one of the largest and strongest luxury hotel groups in Mexico

atmospheres created along its properties, but also very busy with planned investments over $240 million for expansion purposes, duplicating room total to 8,000 and creating more than 6,000 jobs.

• A new 1,927-acre development is underway in Puerto Vallarta, which

will include an array of new projects, including the expansion of Hotel Mousai and the creation of Echoes, a top luxury adults-only hotel. Also in the works: the introduction of the modern, ultra-luxury condo-hotel Lemuria Hotel & Residences as well as new restaurants to be found at

Bonatti leads the energy industry’s evolution towards sustainability

The wide experience acquired and a highly organized global team factor into Bonatti making a difference when offering integral and EPC services for the energy industry by providing a sustainable and dedicated approach

Creative Direction

Rodríguez

Interviewee

Blejer, General Manager for the Americas at Bonatti

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Pintado

Translation by María Murgui

Bonatti is an EPC (Engineering, Procurement, and Construction) company providing services to the energy industry, created in Italy in 1946. In its early days, it provided services mainly to ENI (National Hydrocarbons Board, Italian oil company founded by the government).

In 1979 Bonatti crossed international borders by being allocated a project in Libya, thus spreading its presence abroad during the 1990s as it earned contracts throughout Europe, strengthened its presence in Northern Africa and also entered into the Latin American market.

Bonatti’s growth is not only limited to its geographical presence but it also has widened its services portfolio by including civil works and EPC agreements.

In the 21st century, Bonatti continues growing sustainably in the regions where it has been established.

MEXICO: WIDE RANGE OF OPPORTUNITIES

During the 2010s, Bonatti spread its presence to new territories, being Mexico one of these countries. In 2012, the Morelos Gas Pipeline project was the starting point for Bonatti in this country, where the company has become a leader in the midstream industry within the energy sector.

The bulk of Bonatti’s portfolio in Mexico includes large gas pipelines, compression stations, metering stations, and storage terminal projects in the EPC modality.

Since its arrival in Mexico, Bonatti has executed works in which more than $2,000 million have been invested and has installed 1,243 miles worth of pipelines, five compression stations, 12 metering stations, and three storage terminals for refined products.

Among attributes distinguishing Bonatti, we could include a wide knowledge of the territory and of current

Energy

- Gustavo Blejer, General Manager for the Americas at Bonatti

I am honored to work with our teams in Canada, Mexico, and Chile, besides seeking to grow our presence in other countries in the continent

regulations in the industry, working in association with contractors and committed suppliers, and having an excellent relationship with labor unions, which is the result of a mainly local workforce preserved through every project.

For Gustavo Blejer, General Manager for the Americas, Bonatti possesses the “strength of a top- level international company combined with the flexibility and efficiency of a mainly local company”.

EXTENSIVE TRAINING AND EXPERIENCE TO LEAD THE COMPANY

Gustavo Blejer graduated from the Engineering School at the Rosario National University in his native country, Argentina, in 1999. Afterwards, he enhanced his

skills earning a Master’s Degree in Administrative Sciences from Stanford University (USA) and a Diploma in Project Planning and Management from the University of California, Berkeley. He recently completed the Diploma in Energy Law at the “Escuela

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Libre de Derecho” school of law in Mexico City.

Blejer joined Bonatti in 2021, where he currently acts as the General Manager for the Americas.

“I am honored to work with our teams in Canada, Mexico, and Chile, besides seeking to grow our presence in other countries in the continent”, the executive commented.

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EXPERIENCE AND A GLOBAL NETWORK OF COLLABORATORS

Bonatti’s extensive experience, along with a career in execution forged through more than 30 different countries, allows the company to offer a large services portfolio, thus providing what every project requires from its knowledge base and relying on its professional staff and its own machinery fleet to be able to move

The largest distributor of electrical and lighting material in Mexico impulsora.com

anywhere when considered necessary.

The main services offered by Bonatti include:

• EPC for ‘oil & gas’ and ‘power’ industries plants (processing plants, power, and petrochemical plants, among others).

• Port infrastructure

• ‘In-house’ construction of large-capacity storage tanks.

• On-site services for gas and crude oil production.

• Operation and maintenance for the oil & gas and power generation industries.

• EPC for water pipelines, refined products and hydrogen, among others.

• EPC for renewable energy plants (wind and solar) and for transition technology (hydrogen, carbon capture).

• Services for the mining industry.

ATTRIBUTES THAT MAKE A DIFFERENCE, EVEN IN FAST-TRACK PROJECTS

Bonatti’s best arises before the challenges some projects present, being a leader in fast-track execution. Bonatti has got the personnel, machinery, and organization to carry out this kind of projects, even in emergency situations when having to substitute another contractor’s company. In Mexico, Bonatti has completed EPC projects before the deadline by working in this “emergency” modality.

The traits making a difference and making Bonatti stand out include:

• A broad EPC direct execution skill, eased by relying on a hired staff in accordance with labor law.

• A large fleet of own equipment, key when issues such as logistics and availability become a challenge to supply chains at an international level.

• Proprietary technology, featuring: i) an in-house welting which is highly scalable, with no maintenance difficulties and with trained staff involved on its operation; ii) “side boom” pipe-laying machine developed by the company with a 130-ton capacity, but a low total weight, offering the possibility of

installing large-diameter pipes in reduced spaces or along with already existing installations; iii) an automatic joint coating system, able to increase efficiency and reducing material waste.

• Its own workshops, located in the vicinities of the city of Queretaro, providing repair and

maintenance services to the equipment fleet, as well as the capacity of prefabricating equipment, structure, and metal pipes.

• A leading engineering team developing all the design, implementation, and launching stages of the most demanding projects.

‘ONE TEAM APPROACH’, ALL TOGETHER TOWARD THE SAME GOAL

Considering its integral operation as an EPC contractor, Bonatti executes most of its projects directly. Still, there are specific tasks requiring outsourcing, recurring to companies that have earned Bonatti’s trust based on their execution level, thus

becoming strategic partners.

Processes such as directional drilling (HDD) execution, cathodic protection, and metal structures, among others, are accurately supervised by Bonatti, thus adjusting such companies to its quality standards and the common goal along with the end client, sharing the ‘One Team Approach’ philosophy to complete the projects in due time and form.

“With the passing of time and the acquired experience acquired and

developed through different projects, we can actually say that our main purveyors can be defined as true allies”, Blejer added.

SUSTAINABILITY AS A DEDICATED FOCUS

After its creation as a company mainly focused on the oil & gas industry 75 years ago, Bonatti has evolved as a general contractor providing services to the energy sector.

As part of this evolution, the company developed a business unit

dedicated to renewable energy and transition technologies, which has been operating since 2021, confirming its commitment to sustainability. This business unit oversees e-fuel, wind and photovoltaic energy, as well as carbon capture.

Bonatti is also involved in hydrogen projects, becoming part of important hydrogen associations at a global level and developing initiatives regarding this issue with the goal of becoming a

high added value player in this kind of projects in Mexico and Chile.

Another field being developed is marine water transportation, either through desalinization processes or as salt water. In Chile, this activity is being prioritized, supplying mainly the mining industry, and which will spread to benefit other activities, including agriculture and human consumption. It is considered that Mexico presents a number of opportunities for

- Gustavo Blejer, General Manager for the Americas at Bonatti

Bonatti’s idea is to go on being a supplier of high added value in the market for energy projects

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the development and use of this specialized activity.

FIRM STEPS TOWARDS THE FUTURE

Thanks to a well-structured, coordinated at a global level, and extremely active sales department, and also thanks to an excellent production capacity and tight team, Bonatti is after a good number of projects in Mexico. With the

understanding of the important role that natural gas plays in energy transition, large-diameter gas pipelines and their associated compression stations currently represent a great part of the activity in the country, and it is foreseen that it will continue to be Bonatti’s main business in Mexico in upcoming years. Also, the company is involved in the development of different projects for

exporting liquefied natural gas (LNG), which are positioning Mexico as a key player in the new energy reality of its business partners.

Bonatti keeps operating, serving current and to-be clients with estimations, engineering and project feasibility research to become a solid ally from the first stages of each project.

“Bonatti’s idea is to go on being

a supplier of high added value in the market for energy projects. We can and we want to support our clients during the whole investment cycle of their projects, thus contributing to making them a reality”, concluded Gustavo Blejer, General Manager for the Americas at Bonatti.