Dutch food and biochemicals company Corbion has agreed to purchase Granotec do Brazil, a food products manufacturer, for $45 million.
The deal fits into Corbion’s creating sustainable growth strategy, which includes extending its bakery business geographically and expanding its North American Bakery solution provider model into Latin America.
Corbion said that the acquisition of Granotec do Brazil will provide the company with a platform to serve its customers even better.
The purchase is expected to be completed in the first half of 2019. Following the deal closure, Granotec will be integrated into Corbion’s Brazilian operations.