Global food firm Mars has announced that it has reached an agreement to acquire Mexican chocolate manufacturer Grupo Turin.
A family business operating since 1928, Grupo Turin is the owner of well known brands such as Conejos and Turin. The agreement will provide more opportunities of growth for Turin’s team and brands, whilst remaining a family business, Mars added.
Jean-Christophe Flatin, global president of Mars said: “When this transaction is completed, we will be proud to welcome Turin Associates to Mars. […] The strong cultural heritage of the two companies and our shared commitment to develop best in class talent, quality products and brands are great fundamentals on which to deliver value to our customers and our consumers in Mexico”.
The transaction is expected to be finalised in the first quarter of 2016.