Vending

Nestlé to acquire Brazil chocolate maker

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September 11, 2023

Nestlé S.A. has agreed to acquire a majority stake in Grupo CRM, a Brazil chocolate provider, according to a press release. Grupo CRM operates a direct-to-consumer model, with more than 1,000 chocolate boutiques under the Kopenhagen and Brasil Cacau brands and an online presence.

Nestlé secured the agreement with Advent International, a Boston-based equity investor which entered into a strategic partnership with Grupo CRM in 2020.

The transaction is expected to close in 2024, subject to customary regulatory approvals. The financial details will not be disclosed.

Renata Moraes Vichi will continue to lead the Grupo CRM operations as CEO and will remain a minority shareholder.