Nestlé said the move widens its presence in a fast-growing category in Latin America, the U.S., and the U.K.
Terrafertil is the world’s largest buyer of golden berries – also known as physalis – and offers a portfolio of natural and mostly organic products.
The company was founded in 2005 in Ecuador by five entrepreneurs and has quickly expanded its presence around the world.
In 2017, it entered the U.S. with the purchase of the company Essential Living Foods. It employs 400 people and has four factories in Ecuador, Mexico, Colombia and Chile.
The transaction includes all of Terrafertil’s operations and assets in the seven countries where it operates.
“We are excited to welcome Terrafertil and its employees to the Nestlé family,” Nestlé Zone Americas CEO Laurent Freixe said.
“This investment allows us to strengthen our presence in fast-growing categories such as plant-based foods, beverages and healthy snacks, known as ‘superfoods’ due to their high natural nutrient content.”
Freixe said Terrafertil will continue to be managed by its founders, operating as a stand-alone entity.
“Nestlé brings several benefits and synergies. Beyond expanding our presence and distribution around the world, we will capitalize on its experience in areas such as Research and Development, marketing knowledge, and operational efficiencies,” said the Bermeo brothers, founding partners of Terrafertil.