Cooking Up Success in Monterrey
Angel Montemayor MBA’15 has always been an entrepreneur.
It started before he was born. Both of his great-grandfathers started their own businesses. His father did, too. “I grew up surrounded by entrepreneurship,” said Montemayor. “So, I knew, even as a kid, that I wanted to start by own business.”
Flash forward to 2017 and he has done just that. He’s the founder and CEO of Grupo MONTEGO; based in Mexico, the company develops products for the food & beverage industry, including seasonings and craft beer. Food is an industry he’s well-versed in, thanks to experience at his family’s meatpacking company, Bocados MG. While serving as managing director at Bocados MG, he started experimenting with seasoning to complement the meat. “I saw an opportunity, so I took it,” he said. “Now that we have introduced our products into big retail chains such as Walmart and HEB, among others, Grupo MONTEGO is growing at a hypergrowth pace, which has taken me into new frontiers as a business and as an individual. I’m enjoying every second.”
That rapid growth is evident in the success Grupo MONTEGO has achieved since launching in February 2016. Montemayor started as the only employee; now he has nine. His Grileros seasonings are sold in Walmart Mexico and other regional and national chains. He’s even in talks to begin distributing to the United States.
While the craft beer his company produces (under the moniker Cervecería DUMAS) is more of a passion project, that doesn’t stop Montemayor from working hard to perfect his product. His journey with Groupo MONTEGO is an illustration of the benefit of hard work and dedication—and a foundation for his advice for fellow founders, too. “If you really believe in your business and your product, work hard and don’t give up,” he said. “I was bottling, labeling, delivering. Basically a one-man show for six months. Now it’s paying off.”
From Engineer to Entrepreneur
Before his endeavors and hard work could take off, Montemayor got an education rooted in entrepreneurial fundamentals at Babson. Though his family history gave him a solid foundation in entrepreneurship, he came to Babson to earn his MBA and hone his skills. He’d studied industrial engineering as an undergraduate student in Mexico, and was looking to learn business.
“I quickly fell in love with Babson once I learned about the entrepreneurship emphasis,” he said. That love was reinforced during his time as a student, thanks to the curriculum and his classmates. “Babson is more collaborative than competitive—everyone wants to add value to your ideas. That’s the Babson way.”
For Montemayor, that sense of collaboration didn’t end after accepting his degree. Case in point: after meeting Raul Garcia MBA’04 at an alumni event in Monterrey, the pair began working together to distribute Grupo MONTEGO’s products. “Raul has a philosophy of helping out entrepreneurs, especially those just starting,” said Montemayor. “We’ve been working great together so far.”
Paying It Forward
As Montemayor continues to develop Grupo MONTEGO, he’s also dedicated to giving back. He serves as the entrepreneurship programs director for the Industrial Transformation Chamber of Nuevo Leon (CAINTRA in Spanish); in that role, he develops internship programs that expose students to entrepreneurship. “I thought to myself, I would have loved to have had the chance to work for a successful entrepreneur while I was studying engineering,” said Montemayor. His summer programs give students the opportunity to intern with young entrepreneurs. “I want students to experience the real thing as early as possible.”
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This year, he’ll also lead a family business retreat near Monterrey to help companies get to their next stage of growth by focusing on generational transition. “I’ve seen companies closing doors because they didn’t have a good generational transition,” he said. “I feel I can help my community and Mexico with this retreat, helping jobs be created rather than lost.”
As he continues to give back and diversify, by working as project manager for Planet Fitness’ first location in Mexico, he also remains focused on Grupo MONTEGO’s continued growth. “I want to keep growing the business and our team, perhaps even start a foundation, but that’s another story” he said. Angel Montemayor is certainly a true Babson success story and we’ll definitely see him crossing new boundaries in years to come.