April 10, 2018 / 9:52 PM / a year ago

Brazil's Kroton unveils first primary education acquisition

FILE PHOTO: Brazil's Kroton Educacional SA Chief Executive Officer Rodrigo Galindo attends the Reuters Latin America Investment Summit 2013 in Sao Paulo May 23, 2013. REUTERS/Paulo Whitaker

SAO PAULO (Reuters) - Kroton Educacional SA (KROT3.SA), Brazil’s largest for-profit college operator, unveiled on Tuesday the acquisition of Centro Educacional Leonardo Da Vinci for an undisclosed value, its first foray into primary education.

The Centro Educacional Leonardo Da Vinci school is located in Vitória, the capital of Espírito Santo state in southeast Brazil.

Kroton plans to make three acquisitions in that segment this year, with the second coming as soon as June, Chief Executive Officer Rodrigo Galindo told journalists in a conference call. Kroton has set up a holding company named Saber to bundle its primary education assets, he added.

Reporting by Gabriela Mello; Writing by Bruno Federowski; Editing by Chris Reese and Sandra Maler

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