WOFCO is now an integral part of Conarpesa, holding a 42% stake in the company

The Legacy in Transition: Álvarez Castellano Seeks Buyer for His Stake and Opens the Debate on the Total Future of Conarpesa

ARGENTINA
Tuesday, April 08, 2025, 01:20 (GMT + 9)

"Yes, the idea is to sell," Fernando Álvarez Castellano stated with determination. Without hesitation or wavering, the president of Conarpesa confirmed his willingness to part with the company he led for decades.

In an interview with Sergio Bustos of #la17, he revealed that he is already in active conversations with potential buyers, among whom the Spanish firm WOFCO stands out, which currently owns a part of the company, and an international investment fund interested in acquiring the entire share package.

Poto: CONARPESA

Álvarez Castellano emphasized that this is not a rushed or improvised decision, but rather the result of a carefully planned personal and professional transition phase. "I am actively working to ensure it is sold," he assured, underscoring that his main objective is to meticulously organize the exit process to ensure that the company continues to operate, prospers, and retains its core values and organizational structure.

WOFCO is already an integral part of Conarpesa, currently holding 42% of the company, a portion that originally belonged to Álvarez Castellano's brothers. The rest of the shares remain under his direct control. "The company is mine and I manage it," he asserted, commenting that his partners are supporting him in this new phase, providing their backing in the strategic decisions he is making for the company's future.

Photo: CONARPESA

In addition to WOFCO, a new player has entered the scene: an investment fund that, according to Álvarez Castellano, will arrive in the country in the coming days. "We are going to enter into serious conversations with them," he announced, confirming the fund's interest in acquiring the entire company, including both his current stake and the percentage controlled by WOFCO, which, if finalized, would imply a complete change in ownership.

Álvarez Castellano was emphatic in assuring that his decision to sell Conarpesa does not stem from fatigue or disillusionment. On the contrary, his intention is clear: "I want to sell well, at value, and to someone logical," he explained, seeking a buyer who understands the essence of the business, respects his human team, enhances the existing structure, and guarantees long-term operational continuity.

Should the operation be finalized, Álvarez Castellano revealed his willingness to remain in his role, not as the owner, but as a professional executive. "I would commit to staying on as a normal CEO, earning a salary," he detailed, with the firm intention of ensuring a smooth and orderly transition, minimizing any negative impact on workers and clients, and facilitating the consolidation of the new leadership with his support and experience.

His decision, he explained, is also intrinsically linked to personal considerations. He seeks to begin a phase of gradual detachment without jeopardizing the valuable legacy built. With transparency, he spoke of his family: "I have a family and I want them to be at peace," he affirmed, stating that his daughter has no interest in getting involved in the business, and his desire is to avoid imposing a responsibility on her that does not belong to her.

Álvarez Castellano insisted that the sale of Conarpesa does not respond to an urgent need, but rather to long-term strategic planning. "I don't need to sell, but I want to do it at the right time," he explained, seeking a buyer who understands the business's idiosyncrasies, values the work done, and envisions a promising future for the company. His priority is not the highest economic bidder, but a serious and committed strategic partner.

Photo: CONARPESA

He categorically rejected versions suggesting a stripping of assets or closure of the company, reaffirming that the fundamental objective of the sale is to strengthen Conarpesa, not weaken it. "This is so that the company grows more, not less," he emphasized, making it clear that there is no room for improvisation and that the entire process will be carried out with order, financial transparency, and a solid strategic plan.

The businessman insisted on his commitment to remain at the head of the company while the sale process is defined. He assured that he is not in a hurry, but has a firm determination to follow this natural path of business renewal. After decades of leadership, his cycle as owner is coming to an end. "I am leaving, but I want to leave everything in order," he concluded with conviction.

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