Brazilian food and drink firm Casadoce has been sold to two private-equity firms, it was announced today (1 December).

Alothon Group, a private-equity firm that focuses on investing in Latin America, and Switzerland-based Partners Group, have finalised its acquisition of Casadoce from Brazilian conglomerate Grupo Cerradinho for an undisclosed sum.

An agreement for Casadoce, which generates BRL100m (US$58.7m) in annual sales from isotonic products, powdered drinks and powdered beverages, was first struck in July.

Alothon managing partner Ettore Biagioni said the deal "furthered" the private-equity firm's strategy to "make select investments in the rapidly-growing consumer products sector in Brazil".

Biagoni added: "With strong brand recognition and a top three ranking in the powdered drinks market throughout Brazil, Casadoce is well positioned for continued growth domestically and abroad by expanding its existing product lines and developing new product lines to be sold through its established distribution network."