Dive Brief:
- The Federal Competition Commission has approved a deal wherein Mexico's Grupo Herdez will acquire Helados Nestle's assets in the country for about $66.7 million dollars. Grupo Herdez began the process of buying the company from Nestle late last year.
- The assets Grupo Herdez is acquiring include a Lagos de Moreno ice cream plant, distribution equipment, freezers, and "an exclusive long-term license to distribute and sell Helados Nestle's brands in Mexico," according to Grupo Herdez, as reported by Fox News Latino.
- Through this acquisition, Grupo Herdez predicts the company will see about $66.6 million in annual sales.
Dive Insight:
According to a Just-Food article from December, Herdez says that the acquisition, particularly the ice cream plant, will boost "scale and capabilities" in the company's frozen foods market and "practically doubles" the company's ice cream business.
Grupo Herdez CEO Héctor Hernández-Pons Torres said, "This acquisition will deliver significant synergies with our Nutrisa business and increase our sales and leadership position in the growing and high-potential ice cream category. We look forward to welcoming the Nestle ice cream team and are excited about this unique opportunity to serve the youth segment, and strengthen our direct mom and pop retail channel in Mexico."