Cade must approve the purchase of Garoto by Nestlé – 06/06/2023 – Panel SA
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After 21 years of the purchase of Garoto by Nestlé, Cade (Administrative Council for Economic Defense) must approve the operation with restrictions. The case will be judged on Wednesday (7).
People who participated in the discussions at the council claim that, for this, three conditions will be imposed: the maintenance of investments in the factory in Espírito Santo for seven years; veto the purchase of any competitor that exceeds 5% of market share of chocolates; and the obligation not to erect barriers to the importation of chocolate (anti-dumping measures).
The purchase was closed in 2002, and two years later, Cade vetoed the deal. Nestlé went to court which, in 2005, suspended Cade’s decision authorizing the operation.
In 2009, the court decision was annulled, determining that Cade would analyze the case again.
With Diego Felix
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