Empresas Carozzi Taps Shareholders for Capital

Chilean food producer Empresas Carozzi is to tap shareholders for a $100m-equivalent capital raise, to strengthen its financial position after acquisitions and a fire at a pasta plant, LatinFinance understands. Carozzi SA owns 75.6% of Empresas Carozzi and Tiger Brands owns 24.4%. As part of financing for that raise, holdco Carozzi SA will tap its own shareholders for CLP37.5bn ($74m) via the sale of 28.8m shares. The initial offering process for the Empresas Carozzi raise is expected July 25 through August 24. Carozzi SA is owned 86% by the Biofill Group.