Consumer-goods giant Unilever has announced its plans to acquire Brazilian natural and organic food business Mãe Terra.
Mãe Terra operates in several categories, with a portfolio that includes organic cereals, biscuits, snacks and culinary products. The company says that its business is worth more than €8 billion in the Brazilian market, and it has seen growth of over 30% per year.
"Mãe Terra has a great following in Brazil and strengthens our food portfolio, allowing us to accelerate our expansion in the high-growth naturals and organic segment," said Fernando Fernandez, president of Unilever Brazil.
"With Unilever’s expertise and distribution channels, we can both grow and scale Mãe Terra, helping to realise its mission of bringing healthy and nutritious food to even more people."
Terms of the deal were not disclosed, and the transaction is subject to regulatory approval.
As part of the deal, Unilever will manage Mãe Terra, while its CEO, Alexandre Borges, will stay on as general manager.
“Unilever understands how preserving our purpose-driven culture is critical to the growth of our business and the popularity of our foods," said Borges.
"It is uniquely placed to help us accelerate our mission: to bring natural and organic food to more people in Brazil."
Unilever has been making a major push in the natural and organic market this year.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.