McCain Foods Strengthens its Presence in Brazil
McCain Foods, the world’s leading producer of frozen French fries, has agreed to acquire a 49% stake in Brazil-based Forno de Minas, a leader in cheese breads. Operating three production facilities and employing 1000 peope in Brazil, Forno de Minas offers a wide range of products including puff pastry, potato bread, burek, stuffed pasta, lasagne and waffles. The company also exports products to over 15 countries around the world.
Paolo Picchi, regional president of McCain Foods Latin America, comments: “This agreement presents a great opportunity for both companies, which have very strong brands in the Brazilian market. We are confident in the success story of Forno de Minas and in the management of the Mendonça family to continue to lead the company. McCain Foods and Forno de Minas have complementary appetizer and snacking strategies and both have a proud commitment to high-quality products and excellent customer service. This partnership presents a fantastic opportunity for both companies to strengthen and grow their presence in this important market sector here in Brazil.”
Helder Mendonça, chief executive of Forno de Minas, who will continue in this role, following the completion of the transaction, says: “This partnership will certainly be very favorable to the growth of both Forno de Minas and McCain’s businesses. We jointly have opportunities to expand our business in Brazil, as well as in the world market.”
