Nestlé decided to acquire the Brazilian chocolate brand Kopenhagen. The news leaked through local media that the multinational confectionery will pay about 3 billion reais (equal to over 562.4 million Euros) for the company. According to the newspaper Valor Economico the figure would be even 4.5 billion reais equal to more than 843.7 million Euros.

The purchase would also include Brasil Cacau, another chocolate brand owned by the Brazilian company: together, both brands have more than 800 stores in Brazil, including many franchises.

The agreement comes about three years after the US private equity company Advent International acquired a controlling stake in Grupo Crm, which controls Kopenhagen.

Last June, the Brazilian Competition Authority Cade approved the acquisition of Chocolates Garoto by Nestlé, more than 20 years after it was first announced. Among the conditions for approval, the company agreed not to make acquisitions representing at least 5% of the Brazilian chocolate market for five years.