US agribusiness Bunge has acquired three brands from Brazilian consumer products giant Hypermarcas.
In a statement published today (12 December), Hypermarcas announced Bunge had bought tomato products brands Salsaretti and Puropure, as well as Etti stocks and sauces, for BRL180m (US$98.7m).
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Hypermarcas said it had earmarked the food brands for divestment earlier this year in order to focus on its pharmaceuticals and personal care businesses. It also sold its household care arm to another buyer for BRL125m.
The statement said: “These transactions will allow Hypermarcas to reduce its leverage ratios and to focus efforts on its key markets. With these two transactions announced today, Hypermarcas concludes this phase of its strategic planning and will focus exclusively in the markets of greatest growth potential and profitability – pharma and personal care.”
The deal with Bunge is expected to close by 30 December. No-one at Bunge was immediately available for comment.
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