McCain Foods, Canada, acquired 49% interest in Forno de Minas, a Brazil-based provider of cheese breads.
Helder Mendonça, chief executive officer of Forno de Minas, will continue in his role following the completion of the transaction.
"This partnership will certainly be very favorable to the growth of both Forno de Minas and McCain's businesses,” he adds. “We jointly have opportunities to expand our business in Brazil, as well as in the world market. We want to continue bringing to the family table high-quality products that have the taste of homemade. We are very pleased to join forces with a company that values as much as we do product quality, partnership with customers and consumer preferences. "
“This agreement presents a great opportunity for both companies, which have very strong brands in the Brazilian market,” adds Paolo Picchi, regional president of McCain Foods Latin America. “We are confident in the success story of Forno de Minas and in the management of the Mendonça family to continue to lead the company. McCain Foods and Forno de Minas have complementary appetizer and snacking strategies, and both have a proud commitment to high-quality products and excellent customer service. This partnership presents a fantastic opportunity for both companies to strengthen and grow their presence in this important market sector here in Brazil.”