ZURICH (Reuters) – Nestle is buying a majority stake in Brazilian premium chocolate maker Grupo CRM, the Swiss food group said on Thursday.

Grupo CRM operates a direct-to-consumer model, with more than 1,000 chocolate boutiques under the Kopenhagen and Brasil Cacau brands and a strong, growing online presence, Nestle said.

Financial details of the deal, which is expected to close in 2024, would not be disclosed, Nestle said.

(Reporting by John Revill, Editing by Friederike Heine)

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