French fries buy Forno de Minas – 04/11/2023 – Panel SA

McCain do Brasil, a Canadian company known for its frozen french fries, signed an agreement to buy control of Forno de Minas, famous for its cheese bread.

With the operation, which has already been communicated to Cade, the founders will leave the board of shareholders of the business founded in 1990 by the family in Belo Horizonte.

Under the terms of the agreement, McCain will acquire 51% and will become the sole shareholder and unitary controller of Forno de Minas. In 2018, the Canadian had already acquired 49%.

Indirectly, the operation will represent the acquisition of the remaining shares of Sérya, currently held by Forno de Minas, according to the document sent by the companies to Cade. Currently, the control of Sérya (which is a manufacturer of frozen potatoes from Araxá (MG) with sales and distribution made by Forno de Minas) is also exercised by the McCain Group.

For the Canadian group, the transaction should help consolidate its presence in Brazil and expand its portfolio, which today is focused on potatoes, frozen pizzas and onion rings.

Joana Cunha with Paulo Ricardo Martins It is Diego Felix

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