Werthein Group

Grupo Werthein (Werthein Group) is a holding company based in Argentina. It is owned and controlled by the Werthein family. Its activities began more than 100 years ago in the agribusiness sector.

Werthein Group
IndustryInvestments
Founded1928
HeadquartersBuenos Aires, Argentina
SubsidiariesVrio Corp.
Websitewww.werthein.com.ar

History

León Werthein emigrated from Bassarabia in 1904 and arrived in Argentina, after coping with difficulties in the Russian Empire. The family established its home in a first company owned by the group.

Founders

  • Daniel Werthein
  • Adrián Werthein
  • Gerardo Werthein
  • Darío Werthein

Company

Activities

  • Telecommunications: Until 2017,[1] the group was a shareholder, originally along with Telecom Italia, of Sofora Telecomunicaciones S.A., which controlled Telecom Argentina.[2]
  • Agribusiness: The industry where Grupo Werthein originated and began its consolidation process. They are involved in various businesses related to this activity: livestock genetics and meat production, commodity production, specialty crops, and dried fruit. High-pedigree animals of Argentina - such as Aberdeen Angus, Hereford, Braford, and Brangus - are raised in their establishments. Grupo Werthein produces wheat, soybeans, and corn (among others). Part of those commodities is industrialized in the plant located in Lima, Buenos Aires, and exported to global markets. In the fruit and vegetable market, they are engaged in the processing and marketing of fruit derivatives, mainly apples. Their establishment is based in the Valley of Río
  • Consumer goods: The group sells tea brands Cachamai[3] and Té José and flavoured yerba mate Cachamate. Besides supplying the domestic market, the company exports to France, Spain, Japan, England, Saudi Arabia, Brazil, and the United States, among other destinations.
  • Insurance: By means of its participation in Caja de Ahorro y Seguro S.A., the group has more than 20 years of experience in the market. The company controls, among others, La Caja de Seguros S.A. and La Caja de Seguros de Retiro S.A.[4] and owns 50% of La Caja Aseguradora Riesgos del Trabajo S.A.[5] and La Estrella S.A. Compañía de Seguros de Retiro. It also has a minority stake in the Argentina subsidiary of Europ Assistance.
  • Financial services: For 35 years it owned Banco Mercantil Argentino, which once had more than 60 branches nationwide. It also participated with the Standard Bank of South Africa in the acquisition of BankBoston Argentina (2007). The bank changed its name to Standard Bank until it was sold in 2011 to the Industrial and Commercial Bank of China. During the 1990s it was part of the Citicorp Equity Investments, which conducted numerous transactions in various sectors of the economy.
  • Oil: Since 2006 the group has had a joint venture together with Petrosiel (Sielecki family) and Energial for oil exploration in a 2,000km² area of Salina Grande I in La Pampa. Their total reserves reach about 6.2 million barrels.
  • Real estate: Through its companies, Grupo Werthein has built over 330,000 m² in different facilities (Torres Figueroa Alcorta, Altos Porteños, Barrio La Damasia in San Fernando and Libertador and Paroissien in Núñez).
  • Wines: Dario Werthein is president of Bodega Riglos, whose vineyards - located in Alto Valle de Uco - produce quality wines in the varieties Malbec, Cabernet Sauvignon, Cabernet Franc and Corte. Sophenia is a wine cellar with over 130 hectares of vines, in Tupungato, Mendoza. Their wines began trading in 2004 and are sold in 30 countries.
  • Horse breeding and sports: Located at Capilla del Señor, Haras El Capricho was established in 1999 and has since conducted the international equestrian competition CSIO-W (horse jumping) for which renowned riders from all over the world have travelled to Argentina. Its president is Gerardo Werthein.

Investments, acquisitions and participations

Social responsibility

Grupo Werthein works in various social responsibility actions aimed at reducing the social gap[7] and shortening distances by means of educational, inclusive, technological, environmental, and sports activities.

The Wertheins have been carrying out social action initiatives related to developing the community in which they are embedded.

References

  1. "BNamericas - What does the DirecTV acquisition mean for W".
  2. Interactivos, Medios Digitales. "Telecom, líder en servicios de telecomunicaciones para empresas". Telecom, líder en servicios de telecomunicaciones para empresas. Retrieved 2023-02-24.
  3. Cachamai (in Spanish)
  4. La Caja Seguros de Retiro (in Spanish)
  5. La Caja ART (in Spanish)
  6. 'Grupo Werthein to have its own winery', Confederaciones Rurales Argentinas (in Spanish)
  7. 'In favour of Social Responsibility Ecosystem', Observatorio de Responsabilidad Social, 30 October 2013 (in Spanish)
  8. List of presidents of Buenos Aires Stock Exchange (in Spanish)
  9. List of authorities of Tzedaká Foundation (in Spanish)
  10. List of authorities of INEBA Foundation (in Spanish)
  11. Members list of IOC
  12. Officers and Board Members of JDC
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