The history of the current Financial Group is a result of the combination of distinct business paths, so that we can understand the foundation and evolution of the following three companies and their subsidiaries: Açores – Finançor, SA, Noviçor – Sociedade Agro-Pecuária de São Vicente, Lda. And Sociedade Açoreana de Sabões, Lda.
Investment and Management Financial Society Azores – Finançor, S.A.
Finançor S.A. was founded in 1954 by a group of industrialists from Michoacan roots, led by Visconde Botelho, absorbing all the assets of Sociedade Moagem Micaelense Lda.
The new company then proceeded to major factory remodeling, increasing the working capacity and creating a new plant for the production of compound feed, whose support to the regional farming was fundamental for the increment that that important sector of the Azorean economy has known since then .
Following 25 April 1974, various labor disputes and lack of modernization in the various sectors of the company led to a very difficult economic and financial situation.
It was the year 1976 when a group of dairy farmers together with some agricultural producers (including Noviçor) jointly decided to acquire the majority of the shares that constituted the company’s share capital. They soon realized that only by investing heavily in the various manufacturing sectors and introducing new technologies, finally restoring the company completely, would it be possible to make it economically and financially viable. Then with its dynamism the new administration reinstated Finançor in the top place of the Açorianas companies.
So in 1980 they contracted with the EFTA Fund for Portuguese Industrial Development a loan that allowed the remodeling of the milling sector, giving it a great capacity and automation, being the company able to produce flours for baking and culinary uses, for pasta, in a competitive manner.
Later on with the improvement of equity, thanks to good results and successive capital increases, it allowed him to obtain financing from the bank for the modernization of all other sectors, namely the Animal Compound Food sector, whose production capacity increased by about ten times the initial capacity.
In 1996 Finance became the founding shareholder of Investaçor, SGPS, SA, with the aim of competing for the privatization of BCA, and changed its strategy for the tourism sector, becoming in the following years the second hotel group in the Azores, with 4 hotel units – Hotel Faial, Hotel Angra, Hotel Pico (meanwhile closed 2008) and the Royal Garden Hotel (opened since 2004).
At the end of the 1990s, Finance acquired all its silar plants from its production units, which proved to be of strategic importance for the regular supply of cereals at competitive prices.
Also the sector of manufacture of cookies was endowed with a completely new industrial unit in the year of 1999.
In 2002, Finançor implemented a Quality Management System according to ISO 9001: 2000, as well as a Food Safety System (HACCP) in the following sectors: Production of Compound Animal Foods, Grinding, Biscuits and Pasta, obtaining its certification, by the certification body APCER in 2004.
In 1973, Dionísio Raposo Leite founded the company Noviçor – Sociedade Agro-Pecuária de São Vicente Ferreira, Lda., Nowadays called Noviçor – Novilhos dos Açores., SA In the constitution of the society were his partners his wife, his son as) and his son-in-law José Manuel Almeida Braz. At the head of the company, as managers, Dionísio Raposo Leite and José Manuel Almeida Braz were at that time. The company had and is engaged in cattle farming, that is, the production of beef for sale of live animals and in carcass.
As mentioned above, in 1976, Noviçor became a small shareholder of Finançor, SA and increased its position until control of the company, with the support of other shareholders, in the early 1990s. Since the entry as a shareholder of Noviçor, that José Manuel Almeida Braz became an administrator of the Finance, assumed the Presidency of the Board of Directors from 1986 to the present date.
During the year 1978, the companies Avigex – Sociedade de Empreendimentos Avícolas e de Frio, Lda. And Granpon – Granja Avícola de Ponta Delgada, Lda. Were founded, having as partners Noviçor, Lda., The company António N. Nóbrega, Lda. And José Manuel Almeida Braz. The production of chickens and eggs has since been the activity of these companies, which have been established in the market, becoming leaders, which still happens today. Granpon has become the largest customer of Finançor.
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