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Nestlé, which sells Nan and Lactogen infant formula, said the site will be its second infant-nutrition factory in Brazil.
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Goodles founder and CEO Jen Zeszut will remain in place along with the rest of the management team.
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“In improving performance, we want to give ourselves optionality,” CEO Mark Allen said of Foppen's future.
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In a statement to Just Food, the baker said the spending would amount to a “triple-digit million-euro” investment.
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Nestlé said the "Holistic Health portfolio" being sold to Yellow Wood Partners generated $1.2bn in sales last year.
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Zug-based Invision will hold a majority stake in Kadi, while management will retain a minority holding.
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The non-ultra-processed certification seal would be applied in 2029 if approved by Governor Gavin Newsom.
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The new structure would create three business areas – Branded Foods, Customer Brands and Coffee.
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