Nestlé has announced it is to acquire a majority stake in Grupo CRM, a premium chocolate manufacturer in Brazil, following an agreement with Advent International.
Grupo CRM operates in the direct-to-consumer channel, and boasts more than 1,000 'chocolate boutiques' under the Kopenhagen and Brasil Cacau brands.
The deal to acquire the business is expected to close next year, subject to customary closing conditions and regulatory approvals. The value of the deal has not been disclosed.
Confectionery In Brazil
"This acquisition further broadens and strengthens our confectionery presence in Brazil, enabling us to enter the high-end segment," commented Laurent Freixe, CEO Zone Latin America at Nestlé.
Following the deal, Grupo CRM chief executive Renata Moraes Vichi will continue to lead the business and remain as a minority shareholder. During her tenure as CEO, she has 'significantly expanded' the business, Nestlé said in a statement.
The Kopenhagen brand has been operating n Brazil since 1928, and includes brand such as Língua de Gato, Nhá Benta, Lajotinha, Chumbinho and Cherry Brand. The Brasil Cacau brand was launched in 2009;
'Highly Appreciated'
"Kopenhagen and Brasil Cacau offer premium chocolates that are highly appreciated by Brazilian consumers," Freixe added. "We are pleased that Renata Vichi will continue to lead the company with her deep knowledge and passion for the chocolate business, people and brands. Together, we will explore opportunities to further enhance the company’s unique premium chocolate experience."
Nestlé, which earlier this week announced the divestment of its peanut allergy business, added that it already has a strong confectionery business in Brazil, and 'this transaction will allow the company to grow in the high-end gifting segment'.
