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Nestlé Brasil enters into an agreement for the purchase of the CRM Group, Owner of Kopenhagen


Staff member
Jan 19, 2024
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São Paulo, September 06, 2023 – Today, Nestlé Brasil has entered into an agreement for the purchase of the CRM Group, owner of Kopenhagen and Brasil Cacau businesses. Under the structure of the transaction, Nestlé acquires the entire stake of FIP Dutch, whose quotaholders are funds managed by Advent International, in the CRM Group. The transaction is subject to the approval of the Administrative Council for Economic Defense (CADE) and will be submitted to the antitrust agency in the coming weeks. The transaction is expected to be closed in 2024. The financial details of the transaction will not be disclosed.

Renata Moraes Vichi, who has been with the company for 25 years, will continue to lead the Group’s operations as CEO and shareholder. Currently, the CRM Group has over 1,000 stores and is one of the major franchisors in Brazil. Nestlé’s controlling interest will allow it to participate in a differentiated segment, adding to its framework a new business model with its network of stores that offer an exclusive experience to consumers by matching high quality chocolate to coffee. Concurrently, Nestlé will be committed to further leveraging CRM Group’s growth.

“Renata’s continuance as CEO is considered fundamental for the success of the transaction, considering her deep knowledge of the business, the results and the passion with which she has led the company over the last 25 years, culminating in a consistent development path”, states Marcelo Melchior, CEO of Nestle Brazil. “We find that we have a great opportunity to accelerate higher value-added segments, further strengthening the Chocolate category in Brazil.”

A centenary brand, Kopenhagen’s history began in 1928 and has evolved throughout decades always distinguished by innovation. Classics such as Língua de Gato, Nhá Benta, Lajotinha, Chumbinho and Cherry Brand are household products to Brazilians: with over 600 stores, Kopenhagen is present in every Brazilian state. On the other hand, the Brasil Cacau stores have been on the market since 2009 and were created with the mission of democratizing quality chocolate in the country. Today, it has over 400 units throughout Brazil.

In 2020, the funds managed by Advent purchased the CRM Group’s control with the objective of supporting the company’s growth. In three years, the private equity firm boosted the opening of new stores, fulfilling the Group’s expansion plans. Advent also added its retail knowledge and technology aimed at accelerating the network’s digital transformation.

“I’ve been at the head of the Kopenhagen and Brasil Cacau brands for over two decades and, since I took my first position in the Group, my management was always aimed at perpetuating our brands and, therefore, all the strategies and innovations are undertaken with this purpose in mind. I’m proud of everything we’ve built jointly with our more than 590 franchisees and 2,000 employees. We come from a family group that has always been characterized by robust governance and a strong and driving culture, where preserving the territories of each brand and its evolvement has always been a priority. With non-negotiable values, we have grown and established ourselves as one of the largest franchising groups in the country. Together with Advent, we have achieved in three years what was had expected in five, and now we are entering into this partnership with Nestlé certain that we still have a long way to go to achieve our big dream. I’m sure that today we have taken a giant step towards this future that, as a group, we build every single day”, celebrates Renata Vichi, CEO of the CRM Group.

“Partnering with entrepreneurs and management teams is at the heart of Advent’s value creation strategy, and we are very happy with what we have achieved alongside Renata and her team at the CRM Group”, says Wilson Rosa, an Advent partner co-responsible for investments in retail and consumer companies in Latin America. Since 1997, Advent has invested in 24 companies in both sectors in the region. “Under Advent’s control, the CRM group saw marked revenue growth, enhanced its standing as the leader in the premium chocolates segment and became one of the main companies in the thriving Brazilian franchise market.”

The relationship to be established between Nestlé and the CRM Group will capture opportunities in different avenues for growth focusing on innovation, digitalization, exploitation of new categories and channels, in addition to enabling the expansion of sustainable initiatives relevant to the chocolate business.

The post Nestlé Brasil enters into an agreement for the purchase of the CRM Group, Owner of Kopenhagen appeared first on Advent International.
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