São Paulo – McCain Foods, the global leader in frozen french fries and potato specialties, announces the acquisition of 70% of Sérya , a Brazilian food company which operates in the pre-formed potato specialty market.
With this investment, McCain continues to strengthen its expansion strategy in the Brazilian market, just one year after establishing a partnership with Forno de Minas, in which it acquired 49% of the company. Forno de Minas owns the remaining 30% of the Sérya business.
Brazil is one of the main focus areas of McCain globally, where the business strategy is to invest in enabling accelerated growth. "Brazil currently reports as the 5th largest market in the world for frozen french fries, with broad potential to become the third largest market by 2021", highlights Aluizo Neto, Managing Director of McCain in Brazil, who from now on will also lead Sérya’s operations.
"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”, added the executive.
McCain do Brasil Alimentos is a division of McCain Foods Limited, a privately held company based in Canada, the world's largest manufacturer of frozen french fries and the world leader in snacks. It employs about 21 thousand people, operating 52 plants on six continents and generating annual sales exceeding CDN$ 9.5 billion.
Sérya is a company founded in 2015 in the city of Araxá (Minas Gerais State – Brazil), with operations in the frozen pre-formed potato specialty market. The company has new and high technology facilities which guarantee quality and production flexibility, as well as a wide range of innovative potato products for the Brazilian market.