MEXICO CITY Jan 17 Mexican processed foods company Grupo Herdez said on Thursday it plans to buy Nutrisa, a frozen yogurt and food supplement chain in a deal valuing the company at almost $240 million.
Grupo Herdez said it will pay 91 pesos a share or 1.99 billion Mexican pesos ($158.08 million) for 67 percent of Nutrisa and it will launch an offer for the remaining 33 percent of the company.
Nutrisa reported sales of 859 million Mexican pesos ($68.24 million) in the first three quarters of last year.
Grupo Herdez shares fell 2.25 percent to 39.88 pesos in morning trading. Nutrisa shares have not traded since December 17, when they closed at 81 pesos. A stock exchange spokeswoman said the company's shares trade infrequently. A Nutrisa spokesman could not immediately be reached.
The food company, which hopes to close the deal in the first half of this year, said it has a credit line to finance the purchase.
The deal is subject to approval by Mexico's Federal Competition Commission and Grupo Herdez shareholders.