Nestle acquires majority stake in organic food company Terrafertil
Food acquisition news : Food and beverage giant Nestle has bought a majority stake in a Latin American organic food company Terrafertil, a producer of plant-based foods and healthy snacks for an undisclosed price.
Nestle Acquisition of Terrafertil Stake
Nestle acquisition of Terrafertil stake is expected to expand the former’s footprint in a fast-growing segment in Latin America, the US and the UK.
Established in 2005 in Ecuador, Terrafertil is said to have a broad portfolio comprising naturally and primarily organic products, which includes its flagship brand Nature’s Heart.
Nestle says Terrafertil is the largest buyer of goldenberries in the world. Goldenberry is an Andean superfood, known to have high content of vitamins and antioxidants.
Nestle acquisition of Terrafertil stake : Terrafertil’s flagship brand Nature’s Heart. Photo courtesy of Nestlé.
Today, Terrafertil has expanded its reach across Mexico, Peru, Colombia, Chile, as well as the UK. Last year, the organic snack manufacturer forayed into the US with the acquisition of Essential Living Foods, a superfoods manufacturer.
Terrafertil has a workforce of 400 people and has four food processing plants in Ecuador, Colombia, Mexico and Chile.
Nestle acquisition of Terrafertil includes all of the organic snack manufacturer’s operations and assets across the seven countries where it has operations.
Commenting on Nestle acquisition of Terrafertil stake, Laurent Freixe – CEO of Nestle Zone Americas, said: “We are excited to welcome Terrafertil and its employees to the Nestlé family. Its natural, organic and healthy products fully support Nestlé’s purpose to enhance quality of life and contribute to a healthier future.
“This investment allows us to strengthen our presence in fast-growing categories such as plant-based foods, beverages and healthy snacks, known as ‘superfoods’ due to their high natural nutrient content.”
Laurent Freixe further said that Terrafertil will be continued to be managed by its founders and will operate as an independent entity.
David, Raul and Daniel Bermeo, the founding partners of Terrafertil, commenting on Nestle acquisition of Terrafertil stake, said: “Nestlé brings several benefits and synergies. Beyond expanding our presence and distribution around the world, we will capitalize on its experience in areas such as Research and Development, marketing knowledge, and operational efficiencies.
“Above all, we share Nestlé´s commitment to society, to the communities where it operates and the environment.”
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