Terms of the transactions were not disclosed.
Wise Foods was purchased from affiliates of New York-based private investment firm Palladium Equity Partners, that had acquired Wise in 2000. This transaction is still subject to customary regulatory approvals, which are expected to be obtained promptly.
The investment in this important sector strengthens the company’s presence in both regions and expands its snack business, which operates in Mexico under the brand Bokados, the third-largest in the country.
The combination of these two companies with our current snack operations will result in net sales of close to $400m in 2013.
Manuel Barragan Morales, chairman of the board of directors of Arca Continental, said: “The integration of Wise Foods and Inalecsa reinforces our confidence in this segment of the snack industry as an important vehicle for creating value for our shareholders, in areas that are highly complementary to our core business.”
Source: Arca Continental
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