Diesco, a Dominican conglomerate of companies with businesses in the packaging, financial investments, product management and soft drinks industries, received a US$275 million investment from U.S. bank Goldman Sachs.
The transaction aims to accelerate the regional expansion of Diesco, which is the industrial arm of Alyon, and includes US$113 million from Goldman Sachs’ flagship investment fund called West Street Strategic Solutions Fund I (WSSS I).
“This new phase begins with the backing of the world’s leading investment and securities bank, Goldman Sachs. Today we grow and create a new diversified multi-Latin platform as a result of a nearly 60-year track record of business excellence,” said Manuel Diez Cabral, president and CEO of Diesco and Alyon. “In addition, this transformational transaction is an endorsement of an optimistic future for the Dominican Republic, Puerto Rico, Colombia and the region.
Alyon is the industrial packaging and beverage division in the Dominican Republic, Puerto Rico and Colombia, which also operates in more than 25 countries.