Garoto purchase gives Nestlé lion's share of Brazilian chocolates market

The Swiss food group Nestlé SA looks set to boost its share of Brazil’s chocolate sector to over half by absorbing local rival Chocolates Garoto SA. The acquisition was announced on February 28, just weeks before the peak chocolate-consumption period of Easter. Law firm Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados advised the sellers.