Columbian chocolate maker Grupo Nacional de Chocolates has struck a US$95m deal to acquire Mexico’s Nutresa.
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Nutresa manufacturers chocolate products for distribution in Mexico, Central America, the Caribbean and the US, the company said.
“The operation fits within Grupo Nacional de Chocolates’ strategic goals and, through this acquisition, our presence in a strategic region… will strengthen,” the company said in a statement.
The deal is subject to the approval of Mexico’s competition authority.
It is expected that the acquisition will close in February, Grupo Chocolates said.
With a manufacturing plant in Mexico City, Nutresa employs 750 people and generated sales of US$49.3m in 2008.
The company produces the Nucita, Nucita Bar, Cremino Bicolor, and Mui Chokato-Bon brands.
