Swiss foods giant, Nestle said it has acquired a majority stake in Terrafertil, a Latin America-based Terrafertil, a company selling natural, organic, plant-based foods and snacks.
Nestle said in the disclosure that the move widens Nestlé’s presence in a fast-growing category in Latin America, the United States and the United Kingdom.
Terrafertil has a wide portfolio of natural and mostly organic products. It is the world’s largest buyer of goldenberries (Physalis), an Andean superfood high in vitamins and antioxidants. The company was founded in 2005 in Ecuador by five entrepreneurs and is managed by three founding brothers, David, Raul and Daniel Bermeo. It quickly expanded its presence in Mexico, Colombia, Peru, Chile, and the United Kingdom.
In 2017, it entered the United States with the purchase of ‘ESSENTIAL LIVING FOODS®’. Terrafertil has received international recognition for its positive social impact through its work with hundreds of small farmers. It employs 400 people and has four factories in Ecuador, Mexico, Colombia and Chile.
The transaction includes all of Terrafertil’s operations and assets in the seven countries where it operates. Laurent Freixe, CEO of Nestlé Zone Americas said, “We are excited to welcome Terrafertil and its employees to the Nestlé family. Its natural, organic and healthy products fully support Nestlé’s purpose to enhance quality of life and contribute to a healthier future. This investment allows us to strengthen our presence in fast-growing categories such as plant-based foods, beverages and healthy snacks, known as ‘superfoods’ due to their high natural nutrient content.”
Freixe said “Terrafertil will continue to be managed by its founders. It will operate as a stand-alone entity, to leverage its unique corporate culture including entrepreneurial spirit, agility and flexibility.”
“Nestlé brings several benefits and synergies. Beyond expanding our presence and distribution around the world, we will capitalize on its experience in areas such as Research and Development, marketing knowledge, and operational efficiencies. Above all, we share Nestlé´s commitment to society, to the communities where it operates and the environment”, said the Bermeo brothers, founding partners of Terrafertil.
Nestlé and Terrafertil will make the corresponding notifications to the antitrust authorities, within the legal terms and in accordance with the provisions of the regulations of each country, as applicable.