Nestle Expands Brazilian Presence via Strategic Acquisition Move

09 Sep, 2023

Nestle Expands Brazilian Presence via Strategic Acquisition Move

Nestle SA has inked a deal with Advent International to secure a majority stake in Grupo CRM, a prominent Brazilian premium chocolate enterprise. Specific financial terms of this agreement remain confidential.

Grupo CRM operates a direct-to-consumer model, overseeing a network of over 1,000 "chocolate boutiques" under the esteemed Kopenhagen and Brasil Cacau brands, in addition to a robust online presence. Kopenhagen, tracing its origins back to 1928, has thrived through continual product innovation and a commitment to delivering exceptional consumer experiences. The company boasts a portfolio of several cherished chocolate brands in Brazil, including Língua de Gato, Nhá Benta, Lajotinha, Chumbinho, and Cherry Brand. Meanwhile, Brasil Cacau, introduced in 2009, stands as a distinct chocolate brand with a presence in hundreds of "branded stores" across Brazil.

Renata Moraes Vichi, a dedicated figure with 25 years of service at Grupo CRM, will retain her role as chief executive officer, also assuming the position of minority shareholder.

Laurent Freixe, CEO of Zone Latin America at Nestle, remarked, "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. We are pleased that Renata Vichi will continue to lead the company with her deep knowledge and passion for the chocolate business, people, and brands. Together, we will explore opportunities to further enhance the company’s unique premium chocolate experience."

Nestle already maintains a robust confectionery foothold in Brazil, and this transaction is poised to facilitate growth within the upscale gifting sector. Notably, Nestle commits to supporting Grupo CRM's sustainability aspirations as part of this endeavor.