Hortifruti and Terra Natural announced on Thursday that the Swiss fund Partners Group took over 100% of its shares – since 2015, the group owns 40% of the work, which at the time was about R $ 300 million. The purchase price of the remaining 60% was not detected.
Two flags, dubbed "luxury coaches", now have a total of 45 stores. With the purchase, the Swiss group aims to open another ten units in the next year. The planned investment for 2019 is $ 80 million.
By opening ten stores in one year, the Swiss group put a foot on the accelerator in terms of expansion. This is because the company has not progressed much since 2015: three years ago, two networks had 40 units.
The purchase of 100% of jobs was announced yesterday, although the contract was signed at the end of last year. When the Swiss came into business in November 2015, Hortifruti just bought the natural rivals of the Earth. The first brand is stronger in Rio de Janeiro, while the second brand has a consolidated presence in Sao Paulo.
After the studies, it was decided that each brand would send its flag. Names will not change, and the visual identity will remain the same. The decision took into account the high brand consolidation in countries where they are already working. The Hortifruti network has been in the market for 30 years and has stores in Rio de Janeiro and Esprit Santo. Naturally Terra is 17 years old in Sao Paolo. Two flags have about 6 thousand employees.