Brazilian investment firm 3G Capital’s owner Jorge Paulo Lemann has acquired 20% stake in icecream manufacturer Diletto for BRL100m ($50.5m).
The transaction was completed in January and was handled through Innova, a fund controlled by Lemann, according to the sources familiar with the matter.
The value of the deal and stake in the company will be changed based on its operation in the coming years, the sources added, reports The Wall Street Journal.
Diletto, based in Sao Paulo, was founded in 2007 and it operates 3,000 outlets in Brazil and intends to expand its presence overseas. The company sources raw materials such as pistachios from Sicily, raspberries from Argentina and cacau from Venezuela. It is expected to generate revenues of BRL50m ($19.39m) in 2013.
In February, Lemann teamed up with Warren Buffett's Berkshire Hathaway to acquire American food company HJ Heinz for $28bn.
