ngel Estrada, paper equipment manufacturer and owner of brands such as Rivadavia, Laprida and Amrica, entered the meat business. The Argentinian group, with a history of more than 140 years, received a loan of $640 million by the Investment and Foreign Trade Bank (BICE) which will be used for the launch Frigo Norte, refrigerator located in the town of Margarita Beln, Chaco Province.

As the company reported in documents published at the National Securities Commission (CNV), the factory – whose final stages of construction will take between 10 and 11 months – slaughtering a daily average of 450 head and meaning almost 400 new jobs. At the same time, seeking to export their meat to other countries Europe, China, Israel and the United States.

FrigoNorte is a project started by a crippled Russian business group in 2015, when its work was already 80% complete. After more than 2 years of negotiations, in 2022, the Estrada Group acquired shares in the company to complete the construction of the export slaughterhouse.

Now, the Argentine group has developed a legal and financial scheme that makes this possible “participated in the financing and construction of a refrigeration plant project on the property of the FrigoNorte company”, holding the document.

In turn, it was determined that the Estrada Group, founder of the first Argentine publishing housewill pay $60 million for the constitution and sale of FrigoNorte’s actual surface rights, previously controlled by Fiduc Investments Ltda.

According to a report from the Rosario Stock Exchange, in Argentina they consume, an average of 53.1 kilograms of meat per resident. Despite being at levels close to historic minimums, per capita beef consumption in the country is the highest in the world. Uruguay and the United States occupy the top three positions. In these countries, the average population consumes 43 and 37 kilograms, respectively.

Meanwhile, according to data from Beef Promotion Institute, That Argentina’s meat exports during 2022, The volume is close to 890,000 tons of beef equivalent to bones and 93,000 tons of beef bones, with a value greater than US$3,424 million.

On September 30, 2023, the company dedicated to the design, production, marketing and distribution of paper products intended for school environments, presents the legacy $10,105 million, working capital $4,105 million and total comprehensive income for the period $56 million. 65% of its sales are concentrated between November and February.

The group, in turn, produces 10 tons of paper per year, has 330 direct employees, production plant in La Rioja province covering an area of ​​12,000 square meters.

The company sends 15% of its production overseas. In fact, exports to Netherlands, United Kingdom, Puerto Rico, Brazil, Chile, Paraguay, Uruguay, Mexico, United States and Belgium, They represent 6% of your total turnover.

The story behind Ángel Estrada

Angel Estrada SA (AESA) He began his field with the sketchbook El Nene, which was launched in 1895.. In turn, the company is dedicated to importing all kinds of school products, such as books, maps, prints and globes. In 1917, the flagship brand, Rivadavia, arrived.in honor of Argentina’s first president and the logo resembles Bernardino Rivadavia’s own signature.

That The Estrada family maintained control until 1990 when, due to the company’s tight financial situation, they decided to sell their majority stake to Sudam Paper SA. He managed the company until December 2004. At that time he transferred ownership to businessman Francisco Soler.

At the same time, investor Fiduc, run by Hungarian and former Ford firm Zsolt Agardy, has taken a stake. Then Soler and Agardy bought their shares from minority shareholders to become 100% controlling. Currently Agardy is controlling partner and his son, Federico, is president of AESA.

In mid-2006, JP Morgan went out looking for a partner, buyer or shareholder for Ángel Estrada. The company finds itself with negative equity and the need to reduce its debt. At the end of the year he successfully renegotiated with a reduction in interest and committed to capitalization.

To clear up the situation, he got rid of several businesses. In 2007, he sold Editorial Estrada to MacMillan Publishers for $14.5 million. He also sold back his majority stake in Pelikan Argentina to Pelikan itself for US$3.5 million. AESA had purchased 75% of Pelikan’s subsidiary in 1994 to complement its sheet and writing business.