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.
Nestle said Renata Moraes Vichi would continue to lead Grupo CRM’s operations as CEO and remain a minority shareholder.
The executive has been with the company for 25 years and has built up and significantly expanded Grupo CRM.
“This acquisition further broadens and strengthens our confectionery presence in Brazil, enabling us to enter the high-end segment,” said Laurent Freixe, Nestle’s CEO for Latin America.
“Kopenhagen and Brasil Cacau offer premium chocolates that are highly appreciated by Brazilian consumers.”
(Reporting by John Revill, Editing by Friederike Heine)
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