Dr. Oetker, the German food firm, has announced it is strengthening its presence in Brazil with the acquisition of local baking aids firm Mavalerio for an undisclosed sum.
Mavalerio has sales volumes of 31,000 tonnes per year. Its product range includes sugar and chocolate sprinkles, chocolate coatings, icing mixes, cocoa powder, sugar, popcorn and flavourings. Founded in 1969, the firm has grown internationally over a number of years, leading to the creation of Mavalerio USA in 2016.
Commenting on the acquisition, Dr. Oetker executive president Albert Christmann said: “We have enjoyed success in the desserts market over many decades with our Dr. Oetker brands, and we are excited to be able to strengthen our position in the baking aids category in Brazil. Brazilians have a great affinity with cake decorations so this is an important step”.
“[Mavalerio] is a great family business with a notable entrepreneurial spirit and a highly experienced and motivated team”, he added. “We share the same corporate values”.
Source: Dr. Oetker (via Gauchazh Economia)