Earlier this year, Nestlé finally won approval to acquire popular Brazilian confectionery brand Garato. The Swiss company said it would double its investment in Brazil's chocolate and biscuit business over the next three years to 2.7 billion reais ($550.8 million) compared to the past four years. The priority will be to expand and modernize the production lines of the Casapava and Malia factories in S ã o Paulo, as well as the Vila Villa Vera factory in S ã o Espirito, which employs over 4000 employees and is an export hub for over 20 countries. Brazil's competition authority conditionally approved Nestlé's 223 million-euro ($238 million) takeover of chocolate company Garoto, more than 20 years after the two companies first ended their partnership and 19 years after Brazil's competition authority initially decided to block the deal . In Cacapava, Nestlé produces the popular KitKat brand of chocolate, while in Vila Velha, production focuses on the Garoto brand of chocolate. The Marília factory produces biscuits. With the new investment plan, Nestlé will also aim to accelerate the development of new products and scale up ESG actions across its operations, Nestlé said.
Cocoa Plan The group also plans to expand its Nestle Cocoa Program sustainable sourcing programme, which has been operating in Brazil since 2010. Nestlé said the scheme encourages regenerative farming practices in the cocoa supply chain. Patricio Torres, Vice President of Biscuits and Chocolates at Nestlé Brasil, said: “Nestlé Brazil has been growing continuously and sustainably for many years. high demand, we saw a 24% increase.”
Post time: Aug-23-2023
