SAO PAULO (Reuters) - The subsidiary of Canada’s McCain Foods Ltd in Brazil on Monday agreed to acquire 49 percent of Brazilian cheese bread company Forno de Minas Alimentos SA, both companies said in a statement.
The value of the deal was not disclosed. Forno de Minas, founded in 1990, owns three factories and has an annual revenue of 340 million reais ($105 million). McCain, the world’s largest producer of frozen potato products, owns 53 factories and has an annual revenue of $7 billion.
Reporting by Tatiana Bautzer