American food processing company Kraft Heinz announced last Thursday a deal to acquire Brazilian Companhia Hemmer Indústria e Comércio (Hemmer). Kraft Heinz aims to expand consumers’ taste options in Brazil and support its strategy of growing its International Taste Elevation product platform and its emerging markets presence with the acquisition. The completion of the agreement is subject to regulatory approvals by CADE (Brazil’s Administrative Council for Economic Defense) and the transaction amount was not disclosed yet. The financial advisor behind the deal is Rothschild & Co. Rafael Oliveira, International Zone President at Kraft Heinz, said “This acquisition offers us a valuable opportunity to accelerate our international growth strategy centered around Taste Elevation – our portfolio of high-quality products that enhance the taste of food.”

Heinz’s dollar bonds were slightly down with its 6.375 2028s down .73 to 124.097, yielding 2.5%

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