Nestlé has reached an agreement with private equity firm Advent International to acquire a majority stake in Grupo CRM, a premium chocolate player in Brazil.
Grupo CRM operates a direct-to-consumer strategy, with more than 1,000 chocolate boutiques under the Kopenhagen and Brasil Cacau brands, and a growing online presence.
Renata Moraes Vichi will stay in her role as CEO of Grupo CRM and will continue as a minority shareholder.
The deal will facilitate Nestlé’s expansion within the “high-end” gifting sector. Nestlé says it will leverage its global R&D capabilities to fuel innovation and foster growth. Additionally, the food giant said it will support Grupo CRM’s sustainability ambitions.
Laurent Freixe, CEO of Zone Latin America at Nestlé, said: “The acquisition further broadens and strengthens our confectionery presence in Brazil, enabling us to enter the high-end segment. Kopenhagen and Brasil Cacau offer premium chocolates that are highly appreciated by Brazilian consumers. 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.”
The transaction, which is subject to customary regulatory approvals, is expected to close in 2024.
Terms of the transaction were not disclosed.
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