Chile: FNE kicks off probe into Nutrabien takeover

Chilean company CCU, part of the Luksic Group, is in the process of transferring its candy and confectionery brand, Nutrabien, to rival group Ideal, a subsidiary of Mexican baked-goods giant Bimbo. As a result, the National Economic Prosecutor’s (FNE) Office will begin an investigation into the purchase of 100% of Nutrabién’s shares.

A value for the merger has not been disclosed. However, CCU seized 50% of the company in 2016 after paying US$22 million to the Jaras Parker family, founders of Nutribien.

If the transaction is completed CCU will have completed its retreat from the confectionery market, after having sold its Calaf and Natur brands to the Chilean headquartered multinational food product company, Carozzi.

Full Content: BiobioChile

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