M. Dias Branco has entered an agreement to acquire the Brazilian division of French dietary food specialist Nutrition & Santé.
The purchase of the Brazil operations, otherwise known as Jasmine Alimentos, will be facilitated through Latinex International Import and Export, a Brazilian snacks, seasonings and sauces maker M. Dias Branco acquired last year.
Jasmine Alimentos, based in Campina Grande do Sul, Parana state, produces a range of health foods encompassing organic, vegetarian, gluten-free and zero-sugar ranges. The portfolio consists of breakfast cereals, seed mixes, burgers and breads, and like M. Dias Branco, also includes biscuits and crackers.
Sao Paulo-headquartered and publicly-listed M. Dias Branco did not disclose the intended purchase price, with the deal “subject to the fulfilment of obligations and conditions”. Just Food has approached Nutrition & Santé to establish the reasons behind the divisional sale.
“In addition to entering new segments, this acquisition reinforces M. Dias Branco’s commercial strategy of profitable growth, including in its portfolio high-growth potential and value-added products,” M. Dias Branco said in a statement.
Latinex owns the Fit Food and Smart brands, with its offering featuring pasta, snacks, seasonings, condiments and sauces. Based in Sao Jose dos Pinhais, also in Parana, Latinex also owns the Frontera brand of tortilla chips and the Taste & Co line.
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In its 2021 financial year, M. Dias Branco held a 32.5% share of the Brazilian cookies and crackers market and 30% in pasta.
The business generated sales of BRL7.8bn (US$1.5bn), an increase of 7.7% from a year earlier. However, EBITDA and net income both fell.
EBITDA dropped 29.8% to BRL683.9m, while base profit declined 33.9% to BRL505m.