Kellogg Company to acquire Ritmo Investimentos, Parati Group
Kellogg Company announced it has entered into an agreement to acquire Ritmo Investimentos, controlling shareholder of Parati S/A, Afical Ltda and Pádua Ltda ("Parati Group"), a leading Brazilian food group. The acquisition, the company's largest in Latin America, furthers two of Kellogg's strategic priorities—becoming a global snacking powerhouse and expanding its presence in emerging markets.
Parati Group offers a wide range of iconic regional brands, including Parati, Pádua, Minueto, Zoo Cartoon and Hot Cracker biscuits, which make up approximately half of the company's business. The rest of the business is comprised of Trink powdered beverages, Parati Lamen instant noodles and Parati dried pasta. Parati Group Net Sales are expected to be approximately R$600 million (or about US$190 million at current exchange rates).