German food manufacturer Dr. Oetker has acquired Brazilian baking decoration business Mavalério for an undisclosed sum, reports just-food.com.
The transaction was carried out through its subsidiary, Dr. Oetker Brasil.
Mavalério is one of the biggest names in the baking decoration category in Brazil and Latin America, with annual sales of 31,000 tonnes, and more than 7,000 clients.
'An Important Step'
Dr. Oetker CEO, Dr Albert Christmann, described the acquisition as “an important step” for the future of the business in Brazil, the report said.
The addition of Mavalério to Dr. Oetker’s portfolio will strengthen the Ristorante and Chicago Town pizza maker’s position in the confectionery decoration industry.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
