LONDON (ShareCast) - (ShareCast News) - Cereal maker Kellogg's has made an investment of BRL 215m towards an expansion of operations in the south of Brazil, the company announced on Friday.
Kellogg's investment is aimed at enlarging the Parati group plants it picked up in the south of Brazil after having acquired the Brazilian based food company in 2016 to strengthen its production capacity in Latin America.

At the time of the acquisition, Parati had 3,200 workers, 60,000 clients and collected $600 million per year, with the expansion move signalling the first investment in the business since its purchase more than a year earlier.

The new structure, which had been slated to start operations in 2019, would be part of a greater strategy by the firm that paid special attention to Brazil, a "market with great importance to the company", according to a statement from the company.

"This partnership with the Santa Catarina government will allow us to invest in the development of the region and giving a better care to the current and future production needs of our clients", said Kellogg's vice president in the Southern Common Market, Gustavo Rincón.

The US firm has not given any further details about the new structures that it intended to build.

As of 1745 GMT, shares had wormed ahead 0.90% to $66.40 each.

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