Nestle Ups The High-End Gifting Game, Buys Major Stake In Premium Chocolate Maker Of Brazil
Portfolio Pulse from Lekha Gupta
Nestle S.A. (OTC:NSRGY) has agreed to buy a majority stake in Brazilian premium chocolate company Grupo CRM from Advent International. The deal, estimated to be worth between $602.78 million and $904.18 million, will enhance Nestle's presence in the high-end gifting segment. The transaction is expected to close in 2024, subject to regulatory approvals.
September 07, 2023 | 11:09 am
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Nestle's acquisition of a majority stake in Grupo CRM could strengthen its position in the premium chocolate market, potentially leading to increased revenues in the future.
The acquisition of Grupo CRM, a company with a strong online presence and over 1,000 chocolate boutiques, could significantly enhance Nestle's footprint in the premium chocolate market. This could potentially lead to increased revenues and profitability for Nestle in the future.
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