Nestle buys majority stake in Brazilian high-end chocolate manufacturer
Nestle is buying a majority stake in Brazilian premium chocolate maker Grupo CRM, the Swiss food group said on Thursday.

Grupo CRM operates with a direct-to-consumer model, boasting over 1,000 chocolate boutiques bearing the Kopenhagen and Brasil Cacau brands, along with a thriving online presence, as stated by Nestle.
Nestle, in the process of acquiring this stake from the private equity firm Advent International, has chosen not to disclose the financial specifics of the deal, which is anticipated to be finalized in 2024.
This acquisition aligns with Nestle's overarching strategy to bolster its footprint within the super-premium chocolate sector. For reference, chocolate bars under the Kopenhagen label are retailed at 29.90 Rials (equivalent to US$6), while a box of chocolates typically sells for approximately 130 rials.
Laurent Freixe, Nestle's CEO for Latin America, expressed, "This acquisition further expands and reinforces our presence in the confectionery market in Brazil, enabling us to enter the high-end segment. Both Kopenhagen and Brasil Cacau offer premium chocolates that enjoy great favor among Brazilian consumers."
In a noteworthy development back in June, the Brazilian competition regulator Cade granted approval for Nestle's acquisition of Chocolates Garoto, more than two decades after the initial announcement. As part of the approval conditions, Nestle committed to refraining from making any acquisitions that would constitute at least 5% of the Brazilian chocolate market for a period of five years.
Most Read News
-
Pakistan, India trade conflicting claims over jet flight
-
Türkiye welcomes Trump's attitude that 'takes into accou
-
US sanctions firms in Iran, China over links to missile
-
Wildfire reignites in South Korea's Daegu, evacuation al
-
Kremlin says peace deal must be reached with Ukraine, no
-
UK watchdog calls out coffee pod ‘eco’ claims as mislead
-
Russia tells ICJ Israel's actions in Gaza undermine lega
-
Trump’s relentless push for tariffs cost trillions durin
-
China blames US for ‘indifference, delayed actions’ in g
-
Gaza death toll hits 52,400 as deadly Israeli attacks co