This entrepreneurial venture began back in 1877, when young Italian Alfredo Francisco Pellas Canessa founded Nicaragua Steamship and Navigation Co., a company seeking to exploit commercial navigation between San Juan River and Cocibolca Lake.
13 years later, in 1890, the Nicaragua Sugar Estates Limited was born, a visionary project conceived by Alfredo Francisco Pellas Canessa and four prominent businessmen: Gonzalo Espinosa Selva, Santiago Morales, Luis Palazio y Pedro Rafael Cuadra, and anchored in a country where the few sugar estates that existed then did not supply the needs of national consumption. This is how the first high production mill was created in Nicaragua.
The following generations of the Pellas family would be in charge of successfully diversifying its presence in the business world. In the next decades new companies were created with a deep-rooted social and environmental commitment, pioneers in the use of innovation and technology.
This is how new companies would emerge or would be acquired, among others: Casa Pellas in 1913, Compañía Licorera in 1937, producer of the famous Flor de Caña rum, Banco de América in 1952, E. Chamorro Industrial in 1969, BAC Florida Bank in 1982, BAC Credomatic in 1985, GBM in 1991, Seguros América in 1997, Hospital Metropolitano Vivian Pellas in 2004, Pellas Development Group in 2005 and TicoFrut in 2014.