McCain invests in Brazilian potato products maker Sérya

Canada-based frozen french fries manufacturer McCain Foods has announced the acquisition of a 70% stake in Brazilian potato products manufacturer Sérya.

Financial details of the deal have not been divulged.

McCain Brazil managing director Aluizo Neto said: “Brazil currently reports as the fifth largest market in the world for frozen french fries, with broad potential to become the third largest market by 2021.

“This investment allows McCain to focus more efforts on local development of high value-added products and in line with our leadership strategy in the potatoes and appetisers market.”

Neto will also lead Sérya’s operations.

Established in 2015 in the city of Araxá, Sérya operates in the pre-formed potato speciality market.

The company has technology facilities, which guarantee quality and production flexibility, as well as a wide range of innovative potato products for the Brazilian market.

With the acquisition of Sérya, McCain has further strengthened its position in the Brazilian market.

Last March, McCain partnered with Forno de Minas, which offers a wide range of products including puff pastry, potato bread, burek, stuffed pasta, lasagne and waffles in Brazil.

McCain acquired a 49% stake in Forno de Minas that owns the remaining 30% of the Sérya business.

Earlier this month, McCain Foods USA announced the expansion of its North American production capacity with an investment of $300m in its Othello potato processing facility in Washington.

The expansion will see the addition of 170,000ft² for a battered and conventional French fry processing line. It is expected to create 180 employment opportunities in the region.