Baracocoa S.A.: A new joint venture in Cuba with Slovak capital

By Daily Pérez Guillén

Baracocoa S.A. is the new joint venture created in Cuba by the merger of Proxperia a.s of Slovakia and the national company Alimcor S.A. This joint venture will process, produce, and market chocolates across the full range of assortments, as well as cocoa and chocolate derivatives, mixes and premixes, pastes, and fats associated with baking and confectionery.

Pavol Kožík, CEO of Proxenta, representing the Proxperia trading company, explained to the press that his company will guarantee the investment. “Regarding energy infrastructure, to achieve independence, we will use renewable sources, such as photovoltaic or wind power, and provide cutting-edge technology for the production of confectionery and chocolate derivatives.”

The Rubén David Suárez Abella Chocolate Factory in Baracoa, Guantánamo province, will be the center of this investment, which also aims to benefit cacao producers and have a positive impact on the community.

“One of the first steps we will take is to work directly with the farmers who supply the plant; this means providing material support. We are prepared to finance and purchase everything the farmers need to begin production on the cacao plantations. We are very eager to have our first direct communications with them and begin working together,” commented the Slovak businessman.

According to Kožík, the factory’s new technology could process a minimum of 7 tons of the prized seed. With current capacity, they will produce cocoa butter and liquor, although the goal is to achieve higher-quality products.

“Cuban cocoa is one of the highest quality in the world. And our long-term goal is to obtain a product of the highest and finest quality.”

Proxenta’s initial investment in Cuba led to the founding of the joint venture Proxcor S.A., dedicated to the production of confectionery and cereals in Caibarién, central Cuba. Now, the Slovak investors hope to link the two productions together.

Meanwhile, Cuban Deputy Minister of the Food Industry, Javier Francisco Aguiar, described this union as a “strategic alliance… that demonstrates the potential offered by the Cuban food sector and the unique opportunity to combine our strengths.” “It is a bridge that unites cultures, knowledge, and markets between the two countries, Cuba and Slovakia, and Cuba and the European region,” he stated.

He also added that it represents a commitment to innovation and quality, and a commitment to mutual and sustainable growth.

Meanwhile, the President of Sociedad Mercantil Alimcor S.A., Dariel La Madrid, emphasized that the incorporation of Baracocoa S.A. is a testament to the fact that international collaboration and foreign investment based on respect and common goals can generate tangible opportunities.

Baracoa’s humid, mountainous climate offers optimal conditions for the growth of this unique product, highly valued for its distinctive flavor and intense aroma. The majority of the fruit is obtained in this region using organic and traditional farming practices that preserve the quality and flavor of the bean.

Press reports indicate that the price of cacao has reached historically high levels in 2025. In December 2024, it will peak at $12,906 USD per ton. This increase in value is due to factors associated with drought periods in West Africa, the main producing region; the decrease in global supply; and the increase in demand for premium and organic chocolate.

After three years of negotiations, the announcement of the incorporation of Baracocoa S.A. was made this Tuesday at the Hotel Nacional de Cuba in the presence of officials from the Cuban Ministries of Food Industry and Foreign Trade and Investment, as well as the Slovak ambassador to Havana.