M White purchase Piraquê in accordance of R $1.55 bi

SÃO PAULO-M white, largest manufacturer of pasta and cookies of Brazil, announced on Monday an agreement to buy 100% the manufacturer of biscuits Piraquê in agreement that evaluates the company at 1.55 billion reais. According to m. Dias, the acquisition serves to accelerate your growth in the South and Southeast, "as well as to include in your portfolio of high added value products". Headquartered in Ceará, the M White owns food brands such as Adria, Star and Isabela and has 12 factories. The Piraquê, founded in Rio de Janeiro, produces biscuits and snacks and has a factory in the State of Rio de Janeiro. According to the company M white, the Piraquê had revenues of 717 million reais from October 2016 and September last year. According to Euromonitor, the M White led the market for dry pasta, such as spaghetti, Brazil last year, with the participation of 24,2%, while the Piraquê was the sixth company in the segment, with a slice of 4,2%. Already in appetizers, the M was in second place, with participation of 10,3%, while the Piraquê was the tenth company, with slice of 1,8%. In sweet biscuits, Euromonitor also identifies the m. Dias as leader last year, with participation of ante 16,3% 3,1% plot of the Piraquê, which held the eighth position in the ranking. Shares of M White closed this Monday in 1,6% fall, quoted at 55.10 dollars. The paper is part of the Ibovespa index, which retreated 0,97%.