Nestle buys Brazil’s Kopenhagen for $602.75 million -media report

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Nestle buys Brazil's Kopenhagen for $602.75 million -media report © Reuters. The company’s logo is seen at a Nestle plant in Konolfingen, Switzerland September 28, 2020. REUTERS/Arnd Wiegmann/File photo

SAO PAULO (Reuters) -Nestle has agreed to acquire Brazilian chocolate brand Kopenhagen for about 3 billion reais ($602.75 million), website Brazil Journal reported on Wednesday, citing people familiar with the matter.

The deal comes around three years after U.S. private equity firm Advent International acquired a controlling stake in Grupo CRM, which controls Kopenhagen.

The purchase also includes Brasil Cacau, another chocolate brand owned by the firm.

Nestle and Kopenhagen did not immediately respond to requests for comment. Advent declined to comment.

($1 = 4.9772 reais)

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