ARCOR sculpts a sweet empire in Latin America.

From its birthplace in Arroyito, Argentina, ARCOR has blossomed into one of Latin America's largest candy companies. A strategy of vertical integration has guaranteed its leading market position

Argentina is a land of romance - from searing tales of

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And what many of Argentina's neighbors have known, and the rest of the world is only now learning, is that this country has long had an irrefutable role in spreading the romance of chocolate and candies.

Like many countries in Latin America, Argentina is populated by European immigrants. In 1924, young Amos Pagani, an Italian immigrant, settled in Arroyito, Cordoba, to establish a bakery. By marrying his sweetheart Matra from the old country, he expanded not only his family but his business. Eventually, a second bakery opened, north of Arroyito, and in time candies were added to the offerings.

Through his efforts, those of his son Fulvio, and a third generation led by his grandson Luis Pagani, Argentina has become known as the home of one of Latin America's largest confectionery concerns.

Under Fulvio's guidance, a vision of ARCOR's future was created and achieved. It has evolved as a self-sufficient operation through vertical integration, turning a small family business into Argentina's largest food company, worth more than $650 million in sales of which chocolate and candy account for 54 percent.

From its chocolate and candy businesses combined, ARCOR has sculpted a 51 percent market share, with a market segment five times larger than that of its closest competitor, says President Luis Pagani. "In 1994, ARCOR competed in 20 categories of candy and chocolates and was ranked first in 14 of them, and second in the other six," he boasts.

ARCOR has carved an indelible mark in confectionery and chocolate markets far beyond its home borders as well, exporting its extensive range of pralines, moulded chocolates and tablets, caramels, hard and soft candies, jellies and gums to more than 50 countries, some as close as Brazil, others as far as Asia.

"From a candy, ARCOR made a world" - a simple slogan, but one that embodies all that ARCOR has become in its 45 years, through vertical integration and one of the highest capacity ratings in Latin America, with daily production at one million kilograms, boasts Pagani.