May 31, 2012
Brazilian food products company M. Dias Branco has agreed to buy Moinho San
Brazilian food products company M. Dias Branco has agreed to buy Moinho Santa Lucia, it says, for up to BRL90m ($45m). It will pay BRL45m up front, followed by BRL27m over the next 6 years, and BRL18m at the end of the 6-year period. The transaction is subject to shareholder approval. M. Dias did not use an outside advisor, a company official says. Santa Lucia, a cookie and wheat products specialist, is based in the Northeastern state of Ceara.