Mexican processed foods company Grupo Herdez said Jan. 17 that it plans to buy Nutrisa, a frozen yogurt and food supplement chain in a deal valuing the company at almost $240 million.
Grupo Herdez said it will pay 91 pesos a share or 1.99 billion Mexican pesos ($158.08 million) for 67 percent of Nutrisa and it will launch an offer for the remaining 33 percent of the company. Nutrisa reported sales of 859 million Mexican pesos ($68.24 million) in the first three quarters of last year.
The food company, which hopes to close the deal in the first half of this year, said it has a credit line to finance the purchase. The deal is subject to approval by Mexico's Federal Competition Commission and Grupo Herdez shareholders. But Reuters reported that Herdez share fell 2.25% on announcement of the deal.
