Brazilian frozen potato chips firm Bem Brasil has recently announced its plan to invest BRL$700 million ($132 million) to increase its production capacity.
The announcement was made at the same time the company revealed that it will have a new CEO in 2021, Denio de Oliveira.
According to sources, Bem Brasil competes with groups such as BRF, JBS, Minerva, and McCain. From 2017 to 2019 the company’s revenue grew, on average, 54% per year. The firm reported that it closed 2020 with a 15% to 20% increase in profitability.
Bem Brasil will start by using the investment to increase production from 250 thousand tons to 450 thousand tons per year. The funds will be used in the Perdizes facility (Minas Gerais) and it includes the set-up of new production lines, new equipment, and construction of a storage area. New production lines are expected to start operating by the end of 2021.
The investment is planned to be made between 2021 and 2023 and to create 300 jobs.
Source: New Trade