INDELMA

What INDELMA does

Industrias del Maíz, C.A. (INDELMA) is a Venezuelan corn-based ingredient manufacturer founded in 1955 as the first subsidiary of the family-owned Corporación Alfonzo Rivas & Cía. (est. 1910). The company operates five specialized plants co-located in Turmero, Estado Aragua — wet milling, modified starches, glucose refining, caramel color, and animal nutrition — producing regular starches, modified starches, glucose syrups, maltodextrin, caramel color, and corn-derived animal feed products under ISO 9001:2008 and ISO 22000 certifications. Its product portfolio spans more than 50 SKUs across the Arco brand, including USP-grade pharmaceutical starches and technical-grade products for industrial applications.

INDELMA serves more than 400 customers across 24+ industrial sectors in Venezuela, including food and beverage, paper and corrugated, textile, pharmaceutical, personal care, home care, and animal nutrition. The company has extended its application footprint into construction (cement setting, mortars, wallboard). Distribution is executed directly from facilities in Turmero and Cagua, with silos and tanks installed at customer sites for bulk delivery that reduces packaging costs and embeds the supplier into customer operations. A technical advisory team provides formulation consulting and process optimization.

The go-to-market is sales-led, combining a direct sales force of technical advisors with inbound channels including a corporate website, social media, and a dedicated 0800 customer service line. The company is privately held, family-controlled, and operates exclusively in the domestic Venezuelan market. No external funding rounds, M&A activity, or international expansion are disclosed. Revenue is not publicly reported; the company is not listed on any stock exchange.

Name

INDELMA

Legal name

Industria del Maiz, C.A.

Website

https://indelma.com.ve

Company type

Private

Founded year

1955

Operating status

Operating

Headcount range

101–250 employees

Short description

INDELMA is a Venezuelan corn-based ingredient manufacturer founded in 1955, operating five specialized plants that produce starches, modified starches, glucose syrups, maltodextrin, caramel color, and animal nutrition products for more than 400 industrial customers across 24+ sectors.

Ownership category

akta.pro rank

Product category

Industrial Food Ingredients

NAICS

Wet Corn Milling and Starch Manufacturing (311221), Starch and Vegetable Fats and Oils Manufacturing (31122), Food Manufacturing (311)

SIC

Grain Mill Products (2040), Food And Kindred Products (2000)

akta.pro primary industry

Starches & Grain Derivatives Manufacturing (cornstarch, maltodextrin, glucose solids) (AFAKABAG)

akta.pro secondary industries

Native Starches & Flours (Corn, Potato, Tapioca, Wheat, Rice) (AFAJABAB), Starch Processing & Sweetener Enzymes (AFAJAIAE)

Keywords

• Corn wet milling
• Industrial starch manufacturing
• Modified starch production
• Glucose syrup refining
• Animal nutrition ingredients

Headquarters

HQ city

Turmero

HQ country

Venezuela

HQ region

Latin America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Ingredient Solutions Manufacturing and Sales: INDELMA generates revenue through the manufacture and direct commercialization of corn-based ingredient solutions including regular starches, modified starches, glucose syrup, maltodextrin, caramel color, and animal nutrition products. The company sells to industrial customers across food, beverage, pharmaceutical, paper, corrugated, textile, personal care, and animal nutrition sectors. Products are offered in various packaging formats (25kg bags, drums, pails) and bulk delivery via silos and tanks installed at customer facilities.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

INDELMA manufactures and sells corn-based ingredient solutions for industrial customers, including regular starches, modified starches, glucose syrup, maltodextrin, caramel color, and animal nutrition products. Production is carried out across five specialized plants in Turmero, Aragua, and products are sold in 25kg bags, drums, pails, and bulk via silos and tanks installed at customer facilities across Venezuela.

Product overview

Industrias del Maíz, C.A. (INDELMA) is a Venezuelan ingredient solutions company with over 60 years of experience, offering a comprehensive portfolio of corn-derived ingredients organized across five manufacturing plants: Wet Milling (Molienda Húmeda), Glucose Refinery (Refinería de Glucosa), Modified Starches (Almidones Modificados), Caramel Color (Color Caramelo), and Animal Nutrition (Nutrición Animal). The core product lines include regular starches (Arco Dist, Arco Flex, Arco Peg, Arco Rex, Arco USP), glucose syrups (Arco 2243-2581 series), maltodextrin (Arcosol 20), modified starches (Arco Bond, Arco Film, Arcogel, Amilorex, Cyepalim series), caramel colors (ARCO 1123-6334 series), and animal nutrition products (Concentrín, Nutricon, Aceite Crude de Maíz). These ingredient solutions serve diverse industries including Food & Beverages, Paper, Corrugated, Textile, Pharmaceutical, Personal Care, Home Care, and Animal Nutrition across more than 400 clients in Venezuela.

Differentiator

Problem solved

Functional benefit

Products and services

• Regular Starches (Arco Dist, Arco Flex, Arco Peg, Arco Rex, Arco Size, Arco USP) Regular corn starches for industrial customers across conversion, labeling, paper sizing, textile, pharmaceutical (USP grade), and food processing applications. Offered in 25kg bags and bulk formats.
• Modified Starches (Arco Bond, Arco Carrier, Arco Cat, Arco Dhex, Arco Film, Texto Film, Arcogel, Gelacol, Amilorex, Cyepalim series) Industrial modified starches for corrugated and paperboard bonding, edible coatings, gummy confectionery, textile finishing, and construction applications. Packaged in 22.5kg and 25kg bags and bulk.
• Glucose Syrups (Arco 2243 USP, 2244 USP, 2311, 2313, 2314, 2318, 2381, 2383, 2411, 2413, 2414, 2441, 2454, 2483, 2581) Corn glucose syrups for industrial food processing, confectionery, beverages, and pharmaceutical applications (USP grade variants for tablet binding and serum solutions). Available in 25kg pails, 280kg drums, and bulk delivery.
• Maltodextrin (Arcosol 20) Maltodextrin for food applications including beverages, infant nutrition, and dairy products, available in 25kg bags.
• Caramel Colors (Color Caramelo ARCO 1123, 1124, 1125, 1154, 2201, 2223, 2224, 6331, 6334) Caramel color products for food and beverage applications, available in 20kg pails, 200kg drums, and bulk.
• Hydrolyzed Starch (Arcomaldex 40) Hydrolyzed corn starch for food and industrial applications requiring controlled sweetness and solubility.
• Animal Nutrition Products (Concentrín 21, Concentrín 60, Nutricon, Aceite Crude de Maíz) Corn-based animal feed ingredients including corn fiber, corn gluten, germ bran meal, and crude corn oil for pets, poultry, swine, cattle, aquaculture, and beekeeping. Available in 25kg bags and bulk.

Segments7 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Regional players

• Arcor: Argentine food and confectionery conglomerate that consumes large volumes of starches and sweeteners and operates regional ingredient supply chains across Latin America; adjacent competitor and reference for LATAM ingredient market dynamics.

Direct peers

• Tereos: French cooperative producing starch, sweeteners, ethanol and animal nutrition from corn, wheat and cassava; comparable ingredient solutions portfolio to INDELMA across starches and glucose syrups.
• Roquette Frères: World's largest corn wet miller and producer of starches, polyols, and modified starches; operates in pharma, food, and industrial channels that mirror INDELMA's five-plant scope.
• AGRANA Beteiligungs-AG: Austrian producer of starches, sweeteners, and animal feed, with a Latin American fruit preparations presence; closely parallels INDELMA's starch-based, multi-segment ingredient strategy.
• Tate & Lyle: UK-listed corn wet miller producing specialty food ingredients, sweeteners, and starches; serves food, beverage, and industrial customers in a similar product mix to INDELMA.

Broad incumbents

• Ajinomoto: Japanese food ingredients specialist producing amino acids, sweeteners, and starch-based ingredients; overlaps with INDELMA in sweeteners and specialty food ingredients.
• Ingredion Incorporated: Global corn wet miller and ingredient solutions provider with a strong Latin American footprint; directly competes with INDELMA in starches, sweeteners, and animal nutrition across overlapping application segments.
• Archer Daniels Midland (ADM): Global agribusiness processor whose Corn Processing segment produces starches, sweeteners, and animal nutrition co-products directly analogous to INDELMA's portfolio.
• Cargill: Diversified agribusiness with corn wet-milling capabilities producing starches, sweeteners, and animal feed ingredients; overlaps with INDELMA across food, feed, and industrial applications.

Others

• Manuchar: Global distributor of food ingredients and commodities with strong presence in Latin America; positioned as a potential alternate channel or competitor if Venezuelan import channels reopen for competing ingredient suppliers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/indelma
• Instagraminstagram.com/somosindelma

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about INDELMA