Mexican conglomerate Alfa, one of the country’s largest, is exploring price actions to combat the impact of inflation at its food subsidiary Sigma, its chief financial officer, Eduardo Escalante, said on Tuesday.
Alfa is working on cost-saving projects, such as replacing ingredients in its recipes with cheaper products, but is open to raising prices in the second quarter, the executive added, during a call with analysts.
Escalante added that the conglomerate, which reported solid first quarter results the day before, is exploring growth opportunities, such as the creation of data centers and the deployment of the 5G network, while finding buyers for its Axtel telecommunications unit.
Monterrey-based Alfa also expects its subsidiary Alpek to close the acquisition of OCTAL Holding by the end of the second quarter.