Nestlé will invest BRL 2.7 billion to expand production in Brazil

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Investment was announced one month after the Administrative Council for Economic Defense finally approved the purchase of Garoto by Nestlé, a deal announced in 2002. According to the company, the investment is three times the amount applied in Brazil by the company in the last four years and will serve to “accelerate Nestlé’s growth strategy” in the country in the biscuit and chocolate segment, “which accounts for a relevant slice of the multinational’s business”. Nestlé had growth of 24% in the last 12 months in Brazil driven by “high demand” in the category, said the company, despite the inflationary environment that depresses consumer spending. The investment was announced a month after the Administrative Council for Economic Defense finally approved the purchase of Garoto by Nestlé, a deal announced in 2002. Nestlé has in Brazil the largest chocolate segment of the group in the world and the investment will modernize and expand the production lines in Caçapava (SP), Vila Velha (ES) and Marília (SP), the company said. The factories supply both the Brazilian market and Nestlé Brazil exports to around 20 countries.

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