Brazil: Nestle to acquire majority stake in Grupo CRM

Swiss FMCG giant Nestle has announced the acquisition of a majority stake in Brazilian chocolate manufacturer Grupo CRM from investment fund Advent International.

Grupo CRM is described as operating a successful direct-to-consumer business, with over 1,000 chocolate boutiques under the Kopenhagen and Brasil Cacau brands and a growing online presence.

Commenting on the acquisition, Nestle Brasil CEO Marcelo Melchior said: “We understand that we have a great opportunity to accelerate higher value-added segments, further strengthening the Chocolate category in Brazil”.

Laurent Freixe, CEO Zone Latin America at Nestle, added: “This acquisition further broadens and strengthens our confectionery presence in Brazil, enabling us to enter the high-end segment. Kopenhagen and Brasil Cacau offer premium chocolates that are highly appreciated by Brazilian consumers”.

The transaction is expected to close in 2024, subject to customary regulatory approvals. Financial details were not disclosed.

Source: Nestle