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
The deal is subject to approval by Mexico's Federal
Competition Commission and Grupo Herdez shareholders.