First venture into Brazil for Heinz
03 Mar, 2011
Global food & beverage giant HJ Heinz confirmed today that it agreed to acquire an 80% stake of the Brazilian food company Quero Alimentos. Although the exact amount is being kept quiet, it is rumoured that the deal is worth around 1.2 Brazilian reals ($723 million). This is the first direct entry by Heinz into the Brazilian market. Brazilian law firm Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados have been appointed by Heinz to assist with the acquisition.