Nestlé announced it has agreed to acquire a majority stake in Grupo CRM, a premium, direct-to-consumer chocolate company in Brazil, according to a release from Nestlé. Grupo CRM’s successful distribution model operates more than 1,000 chocolate boutiques under the Kopenhagen and Brasil Cacau brands, as well as a strong online presence, the release states.
Financial details were not disclosed, but the transaction is expected to close in 2024.
Renata Moraes Vichi will stay on as CEO of Grupo CRM operations, building on her 25 years successfully overseeing Grupo CRM’s expansion. Nestlé believes the acquisition is an entry point to the high-end chocolate gifting segment in Brazil, where it already has a confectionery presence.
Kopenhagen was founded in 1928 in Brazil, the release notes, and has evolved over the years via product innovation and improved consumer experience, bolstered by beloved brands such as Lingua de Gato, Nhá Benta, Lajotinha, Chumbinho and Cherry Brand. The Brasil Cacau brand was launched in 2009.