Nestle SA said Friday that it has acquired a majority interest in organic plant-based foods and snack company Terrafertil.
Nestle said the move widens its presence in Latin America, the United States and the United Kingdom. No financial details of the transaction have been made available.
Terrafertil employs 400 people and has four factories in Ecuador, Mexico, Colombia and Chile. It was founded in 2005 and is managed by three founding brothers.
The transaction includes all of Terrafertil’s operations and assets in the seven countries where it operates. Nestle said that Terrafertil will continue to be managed by its founders and will operate as a stand-alone entity.
By Anthony Shevlin
Source: MarketWatch
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