This is the Chilean company Carozzi, which replied the 24.8% that was held by the South African Tiger Brands.
The Chilean company Carozzi, who in Argentina owns Bonafide, completed the repurchase of 24.38% of the actions of its subsidiary companies Carozzi, which so far were in the hands of the South African multinational Tiger Brands. With this operation, Carozzi raises its participation to 99.99% of the share capital, thus consolidating its total control over the company.
The transaction, Valuated at US $ 181 million, it was financed through a dividend of US $240 million that Carozzi companies distributed to its shareholders, allowing Carozzi to obtain the resources to complete the purchase. This operation marks the end of a 25 -year relationship between Carozzi and Tiger Brands, who had entered the Chilean firm’s shareholders in 1999 with the aim of strengthening its international expansion and providing their experience in the food sector.
Tiger Brands is one of the main food companies in South Africa and had acquired its participation in Carozzi as part of a global diversification strategy. However, in recent years, lMultinational decided to focus its growth in the South African market and reduce its exposure in foreign markets.
For its part, Carozzi is one of the largest food groups in Latin America, with more than 125 years of experience and presence in multiple markets. Its product portfolio covers more than 25 categories, including pasta, cookies, chocolates, candies, sauces, snapshot drinks, healthy products and pet food. Among its most recognized brands are Costa, Ambrosoli, Vivo, Bonafide, Molitalia, Master Dog and Master Cat.
At the moment, Carozzi has productive units in Chile, Peru and Argentina. In Chile, its main headquarters is located in San Bernardo, where one of the largest industrial plants in the region operates. In Peru, the company controls Molitalia, a leading firm in the local food market. In Argentina, Carozzi owns Bonafide, one of the most emblematic brands of coffee and chocolates in the country, with a constantly expanding franchise network.
Locally, it has two productive units located in the province of Buenos Aires, one in the town of San Martín, where it produces coffee, chocolates and cookies and another in Marcos Paz, dedicated to the elaboration of bakeries.
In addition, the company maintains commercial offices in key markets such as the United States, Canada, Puerto Rico, Ecuador, Bolivia, Central America and the Caribbean, since it has a strong export profile.
As explained in the sector, the repurchase of the participation of Tiger Brands not only gives Carozzi the total control of his business, but also gives him greater flexibility to define his investment and expansion strategies. Punctually, the company seeks to continue growing in Latin America, while exploring new business opportunities.
Source: Ambito
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