Kellogg Company buys owner of Parati, cookies

São Paulo – the Kellogg Company, the world leader, announced the purchase of the Investment Pace, holding companies controller Parati, Padova and Afical.
The acquisition was made through the subsidiary of the American Pringles and food Trade Services Ltd and is subject to approval by CADE (Administrative Council of economic defense). The value was not informed.
It''s the biggest deal by the multinational of biscuits and snacks in Latin America, the companies said in a statement.
Founded by Angelo Fantin for over 40 years, the Investment Rate was looking for a partner who could carry out the investments needed to increase the competitiveness of the company in relation to its competitors.
According to the company, the expertise and the strength of Kellogg, combined with the platform and the team of the company, will bring excellent results and achievements.
The Pace has 3,200 employees, 78000 m ² of area built in factories and offices and 47 production lines. Group companies produce around 100000 tonnes of food a year.
Among the best-known brands are Trink, Hot Cracker, Minuet, Zoo Cartoon, Parati, Padova, Good ball, Radkau, Granofibra, Flay and Joker. There are more than 150 products, including sweet and savoury biscuits, snacks, cereal bar, breakfast cereals, soft drinks, in addition to line of soups, noodles, instant noodles and Christmas pudding.