ESTUDO DE CASO: Vigor Alimentos S.A. x Itambé Alimentos S.A.

Abstract

The dairy brand Vigor, seeking to accelerate the execution of the strategic expansion plan for important markets, acquired in 2013 the corresponding to 50% of the shares of Itambé for R$410 million, an agreement made with it that resulted in the right to appoint presidents and directors. The results from the investment are consolidated in Vigor's financial statements, but its capital structure, operational and administrative processes and management remained independent. In 2011 in the Leite Brasil ranking, Itambé was the third largest company in Brazil in terms of milk collection and Vigor was in tenth place, which was a positive factor for Vigor, as it would then have access to a significant volume of milk, being 3 million tons per year, promoting its business growth. Another positive factor was that Itambé products contributed to the diversification of categories, such as powdered milk, yoghurts and cream cheese.