Kellogg to acquire Ritmo Investimento of BrazilStaff Writer | October 13, 2016
Kellogg Company has entered into an agreement to acquire Ritmo Investimentos, controlling shareholder of Parati, Afical Ltda and Pádua, a Brazilian food group.
Acquisition The largest buy in LatAm
Parati Group offers a wide range of iconic regional brands, including Parati, Pádua, Minueto, Zoo Cartoon and Hot Cracker biscuits, which make up approximately half of the company's business.
The rest of the business is comprised of Trink powdered beverages, Parati Lamen instant noodles and Parati dried pasta. Parati Group Net Sales are expected to be approximately R$600 million (or about $190 million at current exchange rates).
Parati Group has 3,200 employees, including a salesforce of approximately 1,300 people serving about 60,000 customers directly.
This includes a strong presence in small to medium – or high-frequency – retail stores in Brazil, which are critical to reaching the country's growing population.
The company also has five distribution centers and two production facilities with room for expansion. ■