01Client Devotion
Every generation earned trust differently.
A legacy
of building
what endures.
VELAG brings together a portfolio of companies operating across multiple industries, connected by a shared vision and a common way of doing business.
While each company has its own identity and expertise, all are guided by the same long-term perspective, entrepreneurial spirit, and commitment to creating sustainable value.
1,500+Professionals
12Countries
20Operating companies
25Social & community causes supported
Our journey
More than 190 years of transcending
by doing good
Select a year to discover our story.
Originally from Lübeck, Germany, Georg Blohm emigrated to Angostura, Venezuela. He joins the trading house Overmann & Co. and becomes a partner.
He founded Blohm & Co. as his first trading house in La Guaira, Venezuela. That same year, he established Blohm & Co. in Puerto Cabello, Carabobo State, Venezuela.
Blohm & Co. was established in the first 6 commercial cities in Venezuela. 1900s
The fourth generation is forced to restructure the business after the Great Depression and its severe global economic impact. With a reduced scale, the company focuses on imports, exports, and financial intermediation.
The financial intermediation business is discontinued following the enactment of the new Banking Law, and Blohm & Co. focuses on imports, exports, and shipping, customs, and port services.
During World War II, Blohm & Co. became part of the Allied governments’ blacklist. Operations are frozen, the family’s name and the firm are placed under restriction, and the company is incorporated with both North American and Venezuelan capital.
C.A. BECO, successor to Blohm & Co., was founded. The Blohm & Co. partners are no longer commercially involved, but retain voting rights and a seat on the new Board of Directors.
In the 1950s, the original geographic diversification model through trading houses is replaced by diversification through businesses specialized at the national level, developing major brands in retail, automotive, fruit, hardware, liquor, and food.
Automundial S.A. is acquired and participation in the automotive market is restored, beginning with the Ford brand. That same year CAPUY was founded, a manufacturer and marketer of Scandinavian-style furniture.
The ENCAVA bus factory was founded.
Taking advantage of the high concentration of the population in urban areas, the fifth generation develops new retail businesses and opens the first BECO department store in Barquisimeto.
An energetic process of international expansion begins, successfully diversifying risks and preserving shareholders’ wealth through the consolidation of operations in different businesses, primarily in Central America and the United States.
Interport Logistics was acquired in the United States. Como starting point par ala creacion de Allyo Global Logistics
The sixth generation successfully completes the restructuring process, both at the shareholder and corporate levels of the organization, with the objective of preparing it organically, effectively, and harmoniously for a new generational transition.
From the transition, VELAG emerges as a holding company with four business units: Corporate Services, Automotive, Logistics Services, and Department Stores.
This is Velag
Good companies.
Lasting value.
We transcend by doing good, building, empowering and inspiring the next generation of good companies, while remaining committed to creating another century of sustainable stakeholder value.
The principles behind built to last
Businesses evolve.
Markets change.
Generations move forward.
What endures are the principles behind every decision.
For nearly two centuries, these principles have enabled every generation to build on the work of the previous one, adapt to new realities and prepare the next.
Built to last
01 — 0701
02We Are The One
Every generation faced different challenges.
03Handshake Power
Every generation built relationships.
04Creating Legacy
Every generation prepared the next.
05Pursuing Knowledge
Every generation kept learning.
06Progress Over Perfection
Every generation improved.
07Right Timing
Every generation knew when to act.
Different generations.
One way of thinking.
Impact
Creating value
beyond business
We build strong, sustainable businesses that create value beyond profitability.
Doing good is how we turn that value into lasting impact across generations. Through education, we empower people and communities to advance sustainable development and improve quality of life.
Education
Cultural
Community
Health
“The businessman or entrepreneur, much like a soldier or a sailor, must be courageous and face danger head-on; he must not allow grievances to affect his spirit and energy.”
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