Natraceutical Signs Brazil MOU, Mulls Listing

Spain’s Natraceutical has signed an MOU with Bio Group Brazil to develop a joint venture between the two nutritional supplement companies in Brazil, according to a company statement. The joint venture, Forte Pharma Brazil, will be 65% owned by Bio group Brazil, with Natraceutical owning the remainder. Natraceutical is a Spanish multinational controlled by Natra, the Spain-based cocoa products manufacturer. The JV will distribute Natraceutical’s products in the LatAm market. Natraceutical, meanwhile, will also consider filing on the Sao Paulo stock exchange. According to a representative from Natraceutical, no financial advisors are involved in the negotiations. The agreement represents Natraceutical’s first foray into the LatAm market, according to the spokesman. Details regarding investment requirements and fundraising needs for the new JV will be decided in the coming months, according to Natraceutical.