|Brands to be included in the transaction are Nestle, Mega, PelaPop and eXtreme.|
MEXICO CITY — Grupo Herdez has entered into an agreement to acquire Nestle’s ice cream business in Mexico for approximately $68 million. Brands to be included in the transaction are Nestle, Mega, PelaPop and eXtreme.
The sale also will include manufacturing plants in Lagos de Moreno and Jalisco. Nestle’s ice cream business management team in Mexico also will join Grupo Herdez and lead the business unit.
“This acquisition will deliver significant synergies with our Nutrisa business and increase our sales and leadership position in the growing and high-potential ice cream category,” said Héctor Hernández-Pons Torres, chairman and chief executive officer. “We look forward to welcoming the Nestle ice cream team and are excited about this unique opportunity to serve the youth segment, and strengthen our direct mom and pop retail channel in Mexico.”Grupo Herdez said the addition of the Nestle business will allow it to increase its scale and capabilities in the frozen business segment and doubles the size of its ice cream business.