SAO PAULO (Reuters) – Nestle said on Wednesday it will invest about 6 billion reais ($1.23 billion) in Brazil by the end of 2025 as it aims to grow its business and expand manufacturing capacity in the country, currently its third-largest market.
The investment will include building a new Purina plant in southern Brazil and launching a new KitKat production line at the Cacapava plant, said Nestle, which recently announced a deal to buy a majority stake in Brazilian premium chocolate maker Grupo CRM.
($1 = 4.8932 reais)
(Reporting by Roberto Samora; Editing by Steven Grattan)