In 2024, major regional corporations announced significant expansion projects across Central America and in markets like the United States. Multinational companies like Nestlé and Bimbo stood out with new project launches for Central America.
The publicly announced investments confirmed by companies amount to over $3.575 billion. However, the figure is likely higher since expansion projects and acquisitions were documented. The largest investment in Central America in 2024 reflects a year of significant corporate moves.
2024 was a dynamic year for investment announcements. According to an analysis by revistaeyn.com, the major announcements were led by Guatemalan companies that strengthened their expansion and investment plans.
The publicly announced investments confirmed by companies total over $3.575 billion, but the number is undoubtedly higher, as additional expansion projects and acquisitions were recorded where transaction amounts were not disclosed. The largest investments in Central America in 2024 have reshaped the economic landscape and positioned the region as a hotspot for corporate growth.
One such case involved the Guatemalan Corporación Multi Inversiones (CMI), which announced on November 1 that it had agreed to acquire a majority stake in Del Real Foods in the United States, a company specializing in producing ethnic foods for that market.
Del Real Foods, based in Jurupa Valley, California, produces refrigerated, hot, and ready-to-eat Hispanic foods. CMI now controls its manufacturing plants in Mira Loma, California, and Moore, Oklahoma, along with an extensive distribution network. This acquisition represents the most significant investment by a Guatemalan company in Central America in 2024 into the U.S. market.
This acquisition is significant as it will diversify CMI’s business and position it within a key Hispanic market. Although details of the agreement remain undisclosed, revistaeyn.com considers it the largest acquisition of the year.
Progreso Expands to the Caribbean
The Guatemalan company Progreso also stood out for entering the Dominican market by purchasing Cemex’s regional operations. This deal underscores one of the largest investments in Central America in 2024, further consolidating regional growth.
In August, the company confirmed an agreement to acquire 100% of Cemex’s operations in the Dominican Republic, including its export business to Haiti. This acquisition positions Progreso as the gateway to the Caribbean market.
The transaction, valued at $950 million, includes a cement plant, two integrated production lines, related cement, concrete, aggregate assets, and maritime terminals. It marks the largest investment in Central America in 2024 for the construction and manufacturing sector.
2024: A Year of Major Business Deals
Overall, 2024’s investment announcements were diverse, spanning retail, banking, hospitality, food, construction, and manufacturing sectors.
The deals documented throughout the year by revistaeyn.com reveal significant corporate activity that promises to consolidate further in 2025. The largest investments in Central America in 2024 indicate strong momentum in local and international business initiatives.
Here are some of the major business moves in Central America in 2024:
CMI
The Guatemalan corporation announced its acquisition of a majority stake in Del Real Foods in the U.S., representing one of the largest investments by a Central American company in the world’s largest consumer market. Additionally, its Pollo Campero brand opened its 100th restaurant in Miami Gardens, Florida, and set an ambitious goal to double its locations within three years.
Walmart Central America
The company announced a $1.3 billion plan for its regional operations over the next five years. This initiative stands out as one of the largest investments in Central America in 2024 in the retail sector.
The retailer aims to strengthen its presence, managing over 900 regional stores. Highlights include the construction of a Perishables Distribution Center in Costa Rica.
Progreso
In August, the Guatemalan group announced it had agreed to acquire 100% of Cemex’s Dominican Republic operations in a $950 million deal, increasing its production capacity by 30%.
Aristos Inmobiliaria
The Salvadoran company announced a $250 million investment to develop AirCity, the first airport free trade zone in El Salvador and the region.
The project will be built on a 532,271 m² site at the San Óscar Arnulfo Romero International Airport. The initial $50 million phase will establish infrastructure to house companies in aeronautics, e-commerce, logistics, and trade.
Futeca Corporation
The Guatemalan company announced Distrito Futeca, a project involving a shopping center and event forum in Guatemala City’s Zones 5 and 10. The $250 million investment will begin in 2025, with the shopping center set to open within three years and the forum in 2029.
AES El Salvador
Through its energy distribution companies (AES CAESS, AES CLESA, AES EEO, and AES DEUSEM), AES El Salvador announced investments of $236 million over the next five years, with $58.3 million allocated for 2024.
The energy company will develop strategic projects to modernize and expand the electricity grid, investing in advanced technologies.
Holcim
In September, the Swiss multinational announced the purchase of Cemex’s operations in Guatemala for $200 million. The deal included a grinding plant near Puerto Quetzal, three ready-mix concrete plants, a maritime terminal, and five land distribution centers.
Bimbo
The world’s largest baking company began constructing a new production plant in El Salvador in April.
The $200 million investment will boost its market presence in Central America. The plant will begin operations in the first half of 2025.
Energuate
The company announced a $71 million investment plan to improve energy distribution quality, network automation, community electrification, and new customer connections.
Grupo Tomza
Through its Tropigas brand, the company invested $65 million in building a Liquefied Petroleum Gas storage facility in Escuintla, Guatemala—the largest of its kind in Latin America.
Grupo Fogel
Japanese company Hoshizaki reportedly paid $28 million in May for a 51% stake in Guatemalan refrigeration equipment manufacturer Grupo Fogel.
SERFINSA
The Salvadoran paytech company announced its expansion into Central America in October, with a $20 million investment plan for the next five years.
The provider of technology and financial processes is entering markets like Nicaragua, Honduras, Panama, Costa Rica, and Guatemala.
Nestlé
The Swiss multinational announced a $5 million investment in a new AI Center in Guatemala to optimize its sales, marketing, and customer service processes. The facility, part of an $85 million five-year investment plan, will be operational by 2025.
Grupo Unicomer
The Salvadoran group reintroduced the RadioShack brand to the U.S. market a year after acquiring its rights. It also opened its 30th Courts store in the Caribbean and launched its fintech EMMA (Easy Mobile Money Access) across several markets.
Anheuser-Busch InBev
The world’s largest beer producer announced plans to establish operations in Panama, open a global procurement office, and initiate a project to replace imported corn starch with local production.
Inversiones CUSCATLAN
This Central American investment group completed two major deals in 2024. The first was acquiring 100% of La Hipotecaria Holding, which operates in Panama. Additionally, it expanded its business in Guatemala by acquiring 100% of Banco Inmobiliario S.A.
Grupo Poma
The Salvadoran business group announced two new hotel projects in Lima, Peru, and plans for additional developments in Panama and El Salvador, including a JW Marriott set to begin construction in 2025.
SISA Seguros
SISA Seguros, majority-owned by Inversiones CUSCATLAN Centroamérica, obtained regulatory approval to acquire up to 90% of Guatemala’s Aseguradora Confío S.A.
San Martín
In August, the bakery chain opened its second store in Dallas, Texas, marking its 73rd location. The chain employs over 4,000 staff members and offers various freshly baked products.
Purdy Motors
The Costa Rican group initiated its transformation into a multinational company as part of its 2030 objectives, driven partly by Toyota Tsusho Corporation acquiring a 25% stake in the company.
Conclusion
The largest investments in Central America in 2024 showcased dynamic growth across diverse sectors, including retail, energy, food production, and construction. Guatemalan companies led the way, with Corporación Multi Inversiones (CMI) acquiring a majority stake in U.S.-based Del Real Foods and Progreso entering the Caribbean market through a $950 million acquisition of Cemex’s Dominican operations. Major players like Walmart Central America, Bimbo, and AES El Salvador announced significant expansion plans. At the same time, Salvadoran firms like Aristos Inmobiliaria and Grupo Poma revealed transformative projects in free trade zones and hospitality. These and other ventures, totaling over $3.575 billion in disclosed investments, highlight a pivotal year for economic development in the region.