HIG Capital announced its investment in the Brazilian ice cream maker, Creme Mel Sorvetes.
Creme Mel is described as the largest producer and distributor of ice cream in Brazil's mid-west. It has over 900 workers and has presence in nine Brazilian states, according to the company statement.
Through the investment of HIG Capital, the ice cream maker is expected to build new manufacturing plants and purchase new equipment to expand its production capacity.
Antonio Santos, founder of Creme Mel, said in a statement that they are very excited about completing the agreement with HIG.
"Their ability and experience in helping companies grow all over the world will help accelerate the expansion of Creme Mel into new markets," he said. "We'll be able to take Creme Mel ice creams to even more clients, always keeping our high quality standards."
Meanwhile, Fernando Marques Oliveira, managing director of HIG Brazil, said that they don't have to reinvent the wheel to achieve success with Creme Mel because it already has a team of skilled professionals in place."
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