Nestlé SA said Sept. 4 that it completed its previously announced acquisition of a majority stake in Latin American natural and organic foods manufacturer Terrafertil after gaining approval from relevant antitrust authorities.
The size of the majority stake and the deal terms were not disclosed.
Nestlé Zone Americas CEO Laurent Freixe said: "This investment allows Nestlé to strengthen its presence in fast-growing categories such as healthy plant-based foods, beverages and snacks. It is also aligned with our vision to be the leading nutrition, health and wellness company."
As part of the deal, Nestlé will acquire Terrafertil's assets and operations in Ecuador, Mexico, Colombia, Peru, Chile, the U.S. and the U.K.
The global producer of goldenberries also is present in 17 other markets through third-party alliances and collaborates with hundreds of small growers and local communities in Colombia and Ecuador.
Nestlé said Terrafertil will continue to operate independently and will be managed by two of its three founding brothers, David and Raul Bermeo.