Colombia's Nutresa to buy Chile's Tresmontes

Colombia's biggest food processor, Nutresa, announced on Thursday it would buy Chile's Tresmontes Lucchetti food and beverage producer.

The investment will be $758 million, and will expand Nutresa's presence to 15 countries.

"This acquisition expands Grupo Nutresa's frontiers to Chile, a market that has a high level of food consumption per capita, is solid, profitable and stable economically and institutionally," Nutresa said in a statement.

 

Source: Bloomberg