Switzerland’s Hero Group has added to its business in Brazil with the acquisition of a majority stake in local snack company Super Saude Nutricional.
Founded in 2013, Super Saude Nutricional markets more than 30 snack products under the Pinati brand.
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CEO Waldemiro Pinati will stay on as the CEO of Super Saude Nutricional and as a minority shareholder of the company.
Financial terms were not disclosed.
Hero Group CEO Christian Schierbaum said: “This acquisition continues our strategy to expand our snack business and enter regions with high snack penetration.”
Super Saude Nutricional’s products include protein bars, crisps and a range of chocolate-covered snacks. Some 60% of the company’s revenues are generated from sales of protein and nut bars.
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By GlobalDataThe company, based in Campo Largo in Curitiba, has a presence in the north-east, south-east and south of Brazil.
Hero already has a presence in Brazil, where a local venture markets jams and spreads under its namesake and Queensberry brands.
The venture, Hero Brazil, has a factory in Itatiba in south-eastern Brazil, employing 170 people. Hero Group owns 51% of the venture.
“From this acquisition, we will be present in a new business front that grows every year, in full line with the global strategy of the Hero group,” Cristiano de Moraes, the CEO of Hero’s business in Brazil, added.
“It is, therefore, an important step for us to expand our presence and competitiveness in the national market.”
Schierbaum was promoted from the position of Hero chief business officer to CEO in April, succeeding Rob Versloot, who stepped down after over 12 years at the helm.
Last year, Hero, the owner of brands such as Schwartau, Semper and Freche Freunde expanded its footprint in the UK by acquiring local business Deliciously Ella.
