Investment firm Arlon Group has taken a “significant stake” in Brazilian frozen vegetable maker Grano Alimentos.
Financial details of the transaction were not disclosed. Two Arlon representatives – Charlie Conner and Bruno Silva – will join the company’s board.
The move also sees former Bunge and Sadia executive Roberto Denuzzo join Grano Alimentos as CEO, and Ambev executive Gustavo Cochlar take over as CFO. joined as CFO.
Grano Alimentos founder and former CEO, Edi Deitos, will remain on the board of directors and will also be responsible for a variety of strategic projects at the company, Arlon said.
“Arlon brings significant operating experience and networks in food and agriculture in Brazil. They fully understand Grano’s business, and importantly, are fully committed to supporting Grano’s growth. I am very pleased with the relationship that Arlon, Roberto, Gustavo and I have developed, and I look forward to their important contribution as we grow Grano,” said Deitos.