06 May 2019 | News
With this investment, McCain continues to strengthen its expansion strategy in the Brazilian market
McCain Foods announces the acquisition of 70% of Sérya, a Brazilian food company which operates in the pre-formed potato specialty market.
With this investment, McCain continues to strengthen its expansion strategy in the Brazilian market, just one year after establishing a partnership with Forno de Minas, in which it acquired 49% of the company. Forno de Minas owns the remaining 30% of the Sérya business.
Aluizo Neto, Managing Director of McCain in Brazil, who from now on will also lead Sérya’s operations said, "Brazil currently reports as the 5th largest market in the world for frozen french fries, with broad potential to become the third largest market by 2021.”
"This investment allows McCain to focus more efforts on local development of high value-added products and in line with our leadership strategy in the potatoes and appetizers market”, added the executive.
Brazil is one of the main focus areas of McCain globally, where the business strategy is to invest in enabling accelerated growth.