Private equity firm Warburg Pincus has acquired a 31.75 percent stake in Brazil-based rice and canned fish company Camil Alimentos from Brazilian firm Gávea Investimentos.
No financial details were disclosed. Gávea Investimentos, a Highbridge Capital Management subsidiary, has held the stake since 2011 through its $1.74 billion diversified Fund IV, according to media in Brazil.
Camil operates sugar and canned-fish brands in Brazil and rice brands in Brazil, Chile, Peru and Uruguay. It has expanded through 15 acquisitions over the last ten years, and generated net revenues in excess of 4 billion reals and EBITDA of $23 million reals in the last fiscal year, according to the company’s website.
Warburg Pincus will look to implement strategies for further growth, said Warburg Pincus’ Brazil managing director Piero Minardi.
“Camil … holds a leadership position in the Latin American food markets,” he added.
The firm acquired its stake in Camil from Gávea‘s Fund IV.
Gávea was founded in 2003 by former president of the Central Bank of Brazil, Arminio Fraga, and has also closed a fifth fund on $974.4 million. The firm makes absolute return investments across a various asset classes through hedge fund and private equity funds.