McCain Foods Acquires Majority Stake in Brazilian Frozen Potato Supplier
McCain Foods has acquired a 70% stake in Sérya – a Brazilian food company focused on the production and marketing of frozen potato specialties.
With the investment, McCain continues to expand its presence in Brazil. A year ago, the firm established a partnership with Forno de Minas, in which it acquired 49% of the company. Forno de Minas also owns the remaining 30% stake in Sérya.
“Brazil currently reports at the 5th largest market in the world for frozen French fries, with broad potential to become the third largest market by 2021. This investment allows McCain to focus more efforts on local development of high value-added products and in line with our leadership strategy in the potatoes and appetizers market,” said Aluizo Neto, managing director of McCain in Brazil.
Sérya was established in 2015 with the goal to supply a wide range of potato products to the Brazilian market. The company is situated in Araxá, Minas Gerais, one of the country’s main potato producing regions. Sérya caters to both the retail and foodservice industry.