Herdez Makes Food Buy

Grupo Herdez has agreed to acquire 67% of Mexican health and nutrition food company Grupo Nutrisa’s shares for some MXP3bn ($238m), according to people familiar with the matter. The deal, subject to approvals, comes at MXP91.00 per share. Herdez will seek to acquire the remaining shares via a public offering, it says. It plans to use a 2-year loan from Banco Inbursa to help fund the purchase. Nutrisa and Herdez decline to name advisors or provide additional information on the terms. Nutrisa shares closed at MXP84.50 Thursday.