Talengo has been helping to professionalize a Colombian family business for the last 7 years. With a track record of more than 70 years, the company is present in 11 countries in Latin America, has a wide range of products for B2B and B2C business segments and a turnover of about US$400MM.
Originally, the company supplied the bakery industry with yeast and bread making ingredients. Over the years the business has evolved into one of the leading companies in the region, with new product categories , a wide portfolio (conserves, condiments, jellies, nectars, compotes, sauces, among others) and very well positioned brands despite the immense national and import competition.
As a result of the transformation of yeast by means of biotechnology processes into inputs that today reach sectors such as the agro-industry in terms of fertilization, the pharmaceutical industry with ingredients for vaccines and the food industry with flavours and nutritional ingredients, the company has diversified its business.
In view of this scenario of growth and with a traditional family business model, shareholders had to rethink their business. They realized that the future of the organization would not be in the traditional business, but in still unexplored fields.
Shareholders understood the relevance of our help in order to work in 3 areas of action.
- To search for mechanisms to preserve a family business over time and maintain a healthy family relationship.
- To help the company to face the great challenges resulting from the transformation.
- To professionalize the management structure and the Board of Directors, and to draw up an appropriate governance procedure.
Talengo has been involved in the incorporation of 5 professionals with different backgrounds who are now at the forefront of the Board of Directors. Professionals providing their experience at financial, legal, innovation, logistics and technical levels. Professionals with different focuses who bring knowledge and diversity to the Board of Directors to face the current challenges.
Talengo has been able to help transforming a family business into a corporate organisation. We have carried out the search for the whole management structure, from the Chairman to all the second line, with professionals from outside the family environment. In this way, the business structure was strengthened with executives capable of taking the new strategy to the rest of the countries in the region and building a new business within the business.
We advised shareholders on the functioning and best practices of their highest governing body, in order to keep the family in the management and not in the management, allowing external managers to exercise their role in the Board of Directors.
It has been a job that has meant going beyond the simple role of a headhunter and being generous with the time dedicated to the client, earning its trust and hoping to be in its top of mind when necessary. A challenge that requires understanding the essence of the business and its moments.
Our advice has helped both the owner and the management to know how to manage next generations and work to double their turnover in the coming years.