New owners, closures, and historical firms disappearing: Argentina's dairy industry map is redrawn

Argentina's dairy industry has undergone a profound transformation in recent years, marked by significant ownership changes in its two largest companies and the sale, closure, or cessation of operations for several historical firms. While the market remains highly fragmented, its composition has shifted, with some companies integrating into larger groups, others exiting the business, and several ceasing to operate entirely.

The latest Ranking of Dairy Industries in Argentina, compiled by the Argentine Dairy Chain Observatory (OCLA) for July 2025 to June 2026, shows Saputo and Mastellone Hermanos-La Serenísima retaining top positions. They are followed by Savencia Argentina and Punta del Agua. However, the rankings behind these leaders reveal a deeper restructuring. Industry sources indicate that the sector needs companies with greater scale and efficiency to increase exports.

Saputo, the Canadian multinational, once again led the list with 3.86 million liters of milk received daily, representing 11.9% of national production. The company increased its reception by 9.2% compared to the previous period, widening the gap with Mastellone. Despite consolidating its top position, Saputo agreed in February to sell 80% of its Argentine operations to the Peruvian group Gloria Foods for US$630 million, retaining only 20%. This deal included two plants and brands like La Paulina, Ricrem, and Molfino.

The decision surprised the industry, as the company was previously expected to maintain and even expand its local presence. "It seemed like a company that was going to stay and not only stay but also grow. In the end, it sold almost everything and only kept 20%," one source commented. Gloria Foods, which already has extensive experience in the Latin American dairy business, also operates in Argentina through Corlasa, which ranked seventh with 754,850 liters daily. Combined, Gloria-linked operations handle over 4.6 million liters per day, slightly more than 14% of national production.

Mastellone Hermanos-La Serenísima maintained its second place with 3.5 million liters daily and a 10.8% market share. The company saw a 6.1% increase in reception, though the gap with Saputo widened. In March, Arcor and Danone agreed to acquire the remaining 51% of Mastellone.