Swiss food and beverage giant Nestlé has acquired a majority stake in Brazilian chocolate manufacturer Grupo CRM from the financial investor Advent International, the company said on Thursday.
Grupo CRM has over 1,000 chocolate boutiques under the Kopenhagen and Brasil Cacau brands.
Renata Moraes Vichi would continue leading Grupo CRM as chief executive and remain a minority shareholder.
Laurent Freixe, chief executive of the Latin America region at Nestlé, said, “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.”