Brazilian rice and bean group Camil Alimentos has acquired Chilean rice brand Tucapel from Aresti Group for an undisclosed sum.
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The deal sees Camil take control of the Tucapel rice brand, its production plans and distribution network. Camil will also take on the Banquete, Selecta, and Los Chinos brands, which provide beans and olive oil products for the Chilian market.
Aresti and Camil have also reached an agreement that will see the two groups cooperate in administration, distribution and marketing in Chile.
“The decision to sell these brands is part of the company’s plan for strategic development. It will give us more opportunities to expand the brands we currently preside over as well as a chance to seek new projects,” said Vicente Aresti Lopez, Aresti founder.
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