Nestlé acquires majority interest in Latin American company Terrafertil
Terrafertil markets natural, organic plant-based foods and healthy snacks.
Nestlé, the world’s largest food and beverage company, said it is acquiring a majority interest in Terrafertil and its flagship brand Nature’s Heart. Terrafertil is recognized for its wide portfolio of natural and mostly organic products. It is the world’s largest buyer of goldenberries (Physalis), an Andean superfood high in vitamins and antioxidants.
Terrafertil was founded in 2005 in Ecuador by five entrepreneurs and is managed by three founding brothers, David, Raul and Daniel Bermeo, Nestlé said. It quickly expanded its presence in Mexico, Colombia, Peru, Chile and the United Kingdom. In 2017, it entered the United States with the purchase of Essential Living Foods.
Terrafertil has received international recognition for its positive social impact through its work with hundreds of small farmers. It employs 400 people and has four factories in Ecuador, Mexico, Colombia and Chile, Nestlé noted.
The transaction includes all of Terrafertil’s operations and assets in the seven countries where it operates.
"We are excited to welcome Terrafertil and its employees to the Nestlé family,” said Laurent Freixe, CEO of Nestlé Zone Americas. “Its natural, organic and healthy products fully support Nestlé’s purpose to enhance quality of life and contribute to a healthier future. This investment allows us to strengthen our presence in fast-growing categories such as plant-based foods, beverages and healthy snacks known as ‘superfoods’ due to their high natural nutrient content.”
Freixe said that Terrafertil’s founders will continue to manage the company. The company will operate as a standalone entity to leverage its unique corporate culture including entrepreneurial spirit, agility and flexibility.”
“Nestlé brings several benefits and synergies,” said the Bermeo brothers. “Beyond expanding our presence and distribution around the world, we will capitalize on its experience in areas such as research and Development, marketing knowledge and operational efficiencies. Above all, we share Nestlé´s commitment to society, to the communities where it operates and the environment."
Nestlé and Terrafertil will make the corresponding notifications to the antitrust authorities, within the legal terms and in accordance with the provisions of the regulations of each country, as applicable, Nestlé said.
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