Acon Investments has signed a deal to invest in KiSabor, a manufacturer and distributor of consumer food products in Brazil.
The financial details of the transaction, which is subject to certain conditions, were not disclosed.
Food Brands Industria de Produtos Alimenticios, also known as KiSabor, offers more than 800 SKUs, which include products such as sauces, dressings, spices, flour products, condiments and popcorn.
The products are sold to over 3,000 retailers and wholesalers across Brazil. The company, based in the state of São Paulo, sells brands include Billy & Jack, Aroma das Índias, KiSabor and D'Cheff.
In a statement, Acon said it will team up with KiSabor’s management team, which includes CEO Donizeti Ferreira, CFO Flavia Tempeste, and industrial director Leandro Tempeste, to “accelerate” the company's growth plans.
Acon partner Rodrigo Galvão said: "KiSabor has established itself as a high-quality producer of branded consumer food products including offerings that capitalise on health-oriented consumers.
“We expect, with this investment, to accelerate the expansion of its distribution network and brand presence throughout Brazil."
The deal marks Acon's 44th investment in Latin America. It manages private-equity funds and special purpose partnerships that make investments in the US, Latin America and Europe.
Acon director Diogo Yano said: "Acon has significant experience investing in the branded consumer food sector, including our recent successful exit from Dori, a leading Brazilian manufacturer and distributor of salty snacks and candy products."
Over the last 29 years, Acon has managed $7.2bn in assets across 86 platform investments and 137 add-on acquisitions through professionals in Washington, D.C., Dallas, Los Angeles, New York, São Paulo, Madrid, Mexico City and Bogotá.
