Private-equity firm H.I.G. Capital has announced an investment in Brazilian ice cream maker Creme Mel Sorvetes.
Headquartered in Goiás, Creme Mel is described by H.I.G. as the largest ice cream producer in the mid-west of Brazil. The company employs around 900 staff and sells ice cream in nine Brazilian states. Neither the financial details of the investment were nor the size of the stake were disclosed.
Creme Mel said the investment will allow it to expand its production capacity with the construction of a new plant and will provide capital for a “faster expansion” throughout Brazil.
“We are very excited to have H.I.G. as a partner,” said Antonio Santos, founder of Creme Mel. “Their ability and experience in helping companies grow all over the world will help accelerate the expansion of Creme Mel into new markets.”