PARAGUAY INSIGHT · ISSUE 014

BDP

From the first business to rebuilding and integration

Pulp × Pepsi × CCU × Grupo Vierci

Sources checked on 14 October 2026 · Eight chapters

Cover: editorial illustration, not a documentary photograph of a BDP factory.
PLACES BEHIND THE BUSINESS

Read the history through its places.

A pharmacy, a brewery and a corporate headquarters: three photographs that provide context for the histories of Pepsi and CCU explored in this feature.

The brick facade of Bradham’s Pharmacy with a blue Pepsi-Cola awningNEW BERN, USA · 2023
A brand that began in a pharmacy

Bradham’s Pharmacy, the birthplace of Pepsi. New Bern, North Carolina, United States. Photographed on 29 April 2023.

Indy beetle · Wikimedia Commons · CC0 1.0 · Cropped to fit the card
The facade of the former CCU brewery in Limache, ChileLIMACHE, CHILE · 2015
The traces of industrial history

The former CCU brewery in Limache, Chile. Photographed on 16 December 2015; this is not a BDP plant in Paraguay or the original establishment of 1850.

A. Ulloa / Servanda Olivares Meneses; Carlos yo · Wikimedia Commons · CC BY-SA 2.0 · Cropped to fit the card
CCU’s glass-fronted corporate building in Santiago, with its logo on the facadeSANTIAGO, CHILE · 2018
The scale of a regional group

CCU’s corporate building on Avenida Vitacura in Santiago, Chile. Photographed on 29 October 2018, before the integration of 2024–2026.

Rodrigo Fernández · Wikimedia Commons · CC BY-SA 4.0 · Cropped to fit the card

Editorial note | Reading the moments when a decision changed

A business history is of little use if it presents its protagonists as people who always knew the right answer. Pulp grew out of a small liquor shop founded in 1937. The business changed hands in 1989 and, according to its management team’s recollection, in 2001 it was sold at around 400 outlets in certain parts of Asunción. The other story, that of Grupo A.J. Vierci, also began with the distribution of domestic and imported products, before it became a large industrial operation.[H01][H02][H06][H09]

Later growth required decisions about acquisitions, rebuilding the commercial operation, international licences, logistics and capital. To enter the United States, the Pulp project shifted from exporting finished drinks to local bottling because of freight costs. Some decisions respond to difficulties already encountered; others seek to avoid an unviable operation before it begins.[H04][H05]

Issue 014 follows these changes and distinguishes official histories, attributed accounts, journalistic reconstructions and editorial analysis. Each chapter ends with questions for the reader’s own business. The aim is to study decisions, with their limits and conditions, without turning the story into a universal formula for success.

A timeline of business decisions

The central story is Pulp and BDP. The origins of Pepsi in the United States, CCU in Chile and Vierci’s distribution business are presented as separate histories.

1937 Licorería Acosta founded [H01] → 1938 Pulp product introduced [H01] → 1967 Grupo Vierci founded [H06] → 1989 Pulp business transferred [H09] → 2001 BDP begins rebuilding; Pulp sold at around 400 outlets [H02] → 2004 Juice and water added [H01] → 2006/2007 Different records for the opening and operation of San Antonio [H01][S08] → 2012 Planet Pulp production in the United States [H04] → 2013 Equity partnership with CCU [H01] → 2024–2026 Integration transaction and announcement of the operational integration of BDP and AV S.A. [S01][S04][S07]

01

The liquor shop of 1937 and the Pulp product of 1938

The first product takes shape when someone recognises a specific need.

The first business was a neighbourhood liquor shop

In central Asunción, Máximo Acosta Colmán opened Licorería Acosta in 1937. BDP’s official history distinguishes this beginning from the arrival of Pulp in 1938. A 2012 account in ABC Color states that his son Javier Acosta continued the business. It began as a shop, before reaching the industrial scale we now associate with the brand.[H01][H09]

Fruit as a distinguishing feature

Pulp was introduced as a soft drink containing fruit juice and pulp, a feature consumers could recognise when they tasted it. In Paraguay in the 1930s, just after the war, a product made from locally available fruit could find a place of its own. We have no statement from the founder that links this decision to an explicit project to build a national identity. The editorial interpretation is narrower: a product characteristic could become a difference that buyers understood.[H01][H09]

Editorial analysis | What a small business can test

A shop close to its customers can listen to their reactions and adjust its offer. For Pulp, we have not verified records of flavour or packaging changes made in response to feedback at the counter: this possibility is a framework for analysis, not a reconstructed historical scene. The use of juice does appear in the official history. Having a recognisable difference does not guarantee competitiveness for decades; the next chapter shows why maintaining a presence in the market matters.[H01]

Questions to ask before growing

A business can start by identifying who buys, which alternative they compare it with and why they buy again. Recording responses, distinguishing cost from price and including payment collection makes it possible to test a product before increasing its scale. The lesson proposed here is to create a difference the customer understands. This is an editorial interpretation, not a statement by the founder.

Management lesson [editorial analysis]: Before deciding the size of a factory or the capital required, identify why someone would choose the product.

Apply this to your business

  • Can you explain in ten seconds what makes your product different?
  • Why did your first ten customers or shops buy again?
View references ↓
02

A familiar brand needs to rebuild its distribution

A brand’s history cannot replace the ability to produce, deliver and collect payment.

Documented history | The transfer in 1989

Pulp’s path to 2001 was not one of uninterrupted progress. ABC Color’s 2012 account records that in 1989 the business passed to another Paraguayan business group through its acquisition by Emprona. We do not have the contract, audited statements or detailed accounts from the founding family that would establish losses or a precise financial cause. The transfer is documented; on its own, it does not prove bankruptcy or justify attributing it to a single reason.[H09]

Management’s recollection | Around 400 outlets in 2001

In a presentation to executives reported by Última Hora on 30 August 2012, Francisco Barriocanal, then general manager of Bebidas del Paraguay, described a weakened brand image and distribution limited to around 400 outlets in certain parts of Asunción when the business was taken over in 2001. According to that account, acquisition talks had begun around October 2000. BDP dates its beginning to the purchase by Grupo Cartes in 2001. This corporate origin must be distinguished from the liquor shop of 1937 and the product of 1938.[H02][H01]

What value did the acquired brand have?

The executives’ recollection highlights their interest in a soft drink that remained in consumers’ memories. Acquiring that recognition was different from introducing a name from scratch. However, a memory does not become a purchase if the product is missing from the shop. The account identifies the value they placed on the brand and the start of improvements to its image and standards.[H02]

Editorial analysis: To assess the rebuilding of a commercial operation, it is useful to examine quality, production, delivery, advertising and product range together. This is a proposed method of assessment; it does not establish how much each measure contributed to Pulp’s results.

Learning without inventing a single cause

Price, costs, distribution, financing and commercial decisions can interact. What is established here is the 1989 transfer and management’s account of the situation in 2001. The hypothesis readers can test against their own figures is that a good brand loses strength if it cannot sustain availability, deliveries and working capital.

Management lesson [editorial analysis]: Being known and being available are different assets. Repeat purchases need both.

Apply this to your business

  • Are sales falling because of the product, price, distribution or payment terms?
  • If you had to rebuild a brand, what would you address in the first 90 days?
View references ↓

Continue with distribution, international brands and integration

  1. Vierci began by distributing products in 1967
  2. Pepsi: its pharmacy origins and return to the Paraguayan market
  3. CCU’s origins: manufacturing, sourcing and transport
  4. Adapting to the market: new products, factories and a change of model in the United States
  5. The integration of 2024–2026: which capabilities are being combined
  6. The next strategy must be testable

Sources and scope of research

Reviewed on 14 October 2026. Company and regulatory documents, attributed accounts and historical reconstructions are distinguished. Management lessons and proposals for the future are editorial analysis.

  1. H01 BDP · Nuestra historia (Our history) ↗
  2. H02 Última Hora · Recollections of Pulp’s management · 30/08/2012 ↗
  3. H04 ABC Color · Decisions for the US market · 2012 ↗
  4. H05 ABC Color · Start of Planet Pulp production · 2012 ↗
  5. H06 Forbes Paraguay · 59 years of Grupo Vierci · 2026 ↗
  6. H08 CCU · Origen y legado desde 1850 (Origins and legacy since 1850) · 14/07/2025 ↗
  7. H09 ABC Color · Account of the Pulp business transfers in 1989 and 2001 ↗
  8. H10 BDP · Integration with AV S.A. · 16/01/2026 ↗
  9. H11 PepsiCo · History of Pepsi · 17/09/2026 ↗
  10. H12 Última Hora · Pepsi returns to supermarkets · 24/11/2011 ↗
  11. H13 ABC Color · Production, opening and statements by Antonio J. Vierci · 21/05/2012 ↗
  12. S01 BDP · Unimos fuerzas para seguir creciendo con Paraguay (Joining forces to keep growing with Paraguay) · 16/01/2026 ↗
  13. S02 CONACOM · Statement on CC 78 · 21/08/2025 ↗
  14. S04 CONACOM · Start of the analysis of CC 78 · 02/12/2024 ↗
  15. S07 CCU · Unaudited interim financial statements · 30/06/2026 · Notes 1.B and 1.C, pp. 14–18 ↗
  16. S08 BDP · Nuestras plantas (Our plants) · Accessed: 14/10/2026 ↗
  17. S10 BDP · Maintenance of FSSC 22000 certification · 26/02/2026 ↗
  18. S11 BDP · Agua La Fuente and the circular economy · 01/10/2026 ↗
  19. S15 CONACOM · Catalogue · Resolution D/AL 66/2025 · 17/07/2025 ↗
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