Sector News

McCain acquires 70% stake in Brazilian food company Sérya

May 6, 2019
Food & Drink

McCain Foods has acquired a 70% stake in Sérya, a Brazilian food company that operates in the pre-formed potato market.

With the investment, McCain continues to strengthen its position in Brazil one year after establishing a partnership with Forno de Minas in which it acquired 49% of the company. Forno de Minas owns the remaining 30% of the Sérya business.

Brazil is one of the main focus areas of McCain globally, where its strategy is to invest in enabling accelerated growth.

“Brazil currently reports as the fifth largest market in the world for frozen French fries, with broad potential to become the third largest market by 2021”, said Aluizo Neto, managing director of McCain in Brazil, who will also lead Sérya’s operations.

“This investment allows McCain to focus more efforts on local development of high value-added products and in line with our leadership strategy in the potatoes and appetisers market,” he added.

Founded in 2015 in the city of Araxá, Sérya offers a “wide range of innovative potato products” for the Brazilian market, according to McCain.

Announcing the Forno de Minas deal last year, McCain said both itself and Forno de Minas have complementary appetiser and snack strategies.

Forno de Minas produces a range of frozen and fresh products such as waffles, stuffed pasta, puff pastry and potato breads. The company exports its products to more than 15 countries, operates three factories in Brazil and registered annual revenue of $103 million in 2017.

Last week, McCain Foods USA, the US unit of McCain Foods, announced an investment of $300 million to expand its potato processing site in Othello, Washington.

An additional 170,000 square feet of production space will be built at the facility. Construction will begin this month and it is estimated the expansion will be completed by the end of 2021.

By Jules Scully

Source: FoodBev

comments closed

Related News

January 29, 2023

Danone appoints three new deputy CEOs

Food & Drink

Danone has appointed three deputy CEOs to “better connect categories and regions” and drive the delivery of its ‘Renew Danone’ strategy. The new appointees are Veronique Penchienati-Bosetta, Shane Grant and Juergen Esser. They will report to Danone CEO Antoine de Saint-Affrique.

January 29, 2023

PepsiCo Portugal invests €7.5m in biodigester

Food & Drink

PepsiCo Portugal has announced that it will invest €7.5 million to construct a new biodigester, which will turn organic waste into biogas. As well as helping its Carregado facility to achieve a 30% reduction in carbon emissions, the biodigester will also contribute to reducing gas consumption, allowing the installation to use the biogas produced during the anaerobic digestion process.

January 29, 2023

Kerry’s fellowship with Upcycled Food Foundation explores future of food waste prevention

Food & Drink

Kerry is sponsoring The Kerry Upcycled Food Foundation Fellowship in a new partnership with the Upcycled Food Foundation (UFF), the non-profit subsidiary of the Upcycled Food Association (UFA). The research fellowship is the second initiated by the UFF and will work toward advancing the understanding of the market, consumer perception and technical opportunities of upcycled food.

How can we help you?

We're easy to reach