Havanna (Argentine company)
| Company type | Public (stock symbol HAVA) |
|---|---|
| Industry | Food production |
| Founded | 1948 in Mar del Plata, Argentina |
| Founder | Benjamín Sisterna, Demetrio Elíades, Luis Sbaraglini |
| Headquarters | Mar del Plata , Argentina |
Area served | Argentina, Bolivia, Brazil, Chile, Costa Rica, France, Israel, Mexico, Paraguay, Peru, Spain, United Kingdom, United States, Uruguay, Venezuela |
| Products | Alfajores, coffee beverages, cookies, brownies, cakes, dulce de leche treats |
Number of employees | 300 (in 1998), 600 (peak summer months in 1998) |
Havanna Holding S.A. (stock symbol HAVA) is an Argentine company specializing in food production, best recognized for its alfajores. Established in 1948 by Benjamín Sisterna, Demetrio Elíades, and Luis Sbaraglini in Mar del Plata, the firm began crafting alfajores that swiftly gained widespread acclaim.
The company runs a franchise network of café outlets and exports its products to countries such as Bolivia, Brazil, Chile, Costa Rica, France, Israel, Mexico, Paraguay, Peru, Spain, the United Kingdom, the United States, Uruguay, and Venezuela.
Early development and growth
Initially involved in bakery operations, Benjamín Sisterna partnered with Luis Sbaraglini to manufacture alfajores under the "Santa Mónica" brand in Buenos Aires. During the 1940s, Sisterna relocated to Mar del Plata and joined forces with Demetrio Elíades, who owned "Confitería Havanna," a Cuban-themed eatery. They transformed the business focus towards alfajores under the newly registered name "Havanna" in 1947. The manufacturing facility commenced operations in early 1948.
Employing a recipe that has remained mostly consistent over time, Havanna broadened its offerings beyond chocolate-flavored alfajores. By the 1950s, it operated eight retail locations in Mar del Plata and became emblematic both of the city and Argentina’s confectionery industry.
During the 1960s, Havanna outpaced its rival "Gran Casino," which it eventually acquired. Following the deaths of Sbaraglini in 1963 and Elíades in 1966, control of the company transitioned to their heirs and shareholders.
Acquisition of the company
In 1998, local firm Exxel Group purchased Havanna for approximately US$85 million. At that point, Havanna was producing 5.5 million dozen alfajores annually from two factories located in Mar del Plata and operated 130 outlets across Buenos Aires and Mar del Plata with a workforce of 300 employees (increasing to 600 during peak summer months). Under Exxel’s ownership, Havanna extended its presence beyond Mar del Plata by launching new stores throughout Argentina.
By 2003, due to the economic crisis from 1999 to 2002 in Argentina, Havanna's debt surpassed US$30 million. This financial strain led Exxel to sell the company to private investors known as "Grupo de Desarrollo y Gestión" (DyG Group) for a mere US$5 million. Under DyG Group’s management, Havanna evolved into an international brand with operations across Latin America—including Brazil, Chile, Peru, Bolivia, Paraguay, Ecuador, Venezuela—as well as expansions into Miami and Spain.
In 2018 alone, Havanna reported revenues of AR$4 billion within Argentina and produced approximately 40,000 dozen alfajores each day. By 2020, it managed a total of 370 outlets: 250 domestically and 120 abroad.
Business expansion: coffee shop concept
A significant factor contributing to Havanna’s enduring success has been its "Café Havanna" franchise model, which provides a variety of coffee beverages alongside hallmark products such as alfajores, lemon-flavored cookies, brownies, cakes, and dulce de leche treats. This concept has flourished with over 230 points of sale across Argentina, Latin America, Spain, and the United States.
While many dining establishments faced declining sales amid economic downturns, Havanna’s franchised cafés experienced substantial growth. These coffee shops have become the company’s premier franchise brand and a prominent player in international franchising outside Argentina.
Part of Havanna’s achievement is attributed to Buenos Aires’ notably high coffee consumption per capita—around one kilogram per person annually—although other Argentine regions show lower intake levels where traditional drinks like mate are favored.
In December 2016, Havanna inaugurated a new manufacturing plant covering 55,000 m² within Batán’s Parque Industrial near Mar del Plata to enhance production capacity by 50%. At that time, Havanna operated approximately 200 franchised outlets across Argentina and produced more than 100 million alfajores yearly.
Products
Among Havanna's primary offerings are the following:
| Product | Flavor |
|---|---|
| Alfajor | Chocolate, 70% cocoa chocolate, dulce de leche, chocolate mousse, white chocolate (filled with dulce de leche), white chocolate with nut (filled with dulce de leche), quince jam |
| Havannet | Chocolate, 70% cocoa chocolate |
| Cookies | Lemon, chocolate |
| Giant-size alfajor | Chocolate |
| Cakes | Chantilly cream |
| Seasonal Easter eggs | Chocolate |
| Puddings | Traditional recipe |
| Dulce de leche | Traditional recipe |
| Coffee | Espresso |