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Owner of Brazil juice maker Natural One sells stake to Gávea

The owner of Brazilian juice maker Natural One SA has sold a minority stake to Brazilian investment firm Gávea Investimentos Ltda for an undisclosed price, according to news reports quoting two sources with knowledge of the matter. Ricardo Ermirio de Moraes, who founded Natural One a decade ago in the southeastern town of Jarinu and was its sole shareholder, agreed to the deal with Gávea on Dec. 28, according to the report. Moraes is a member of the family that owns Brazil's largest industrial conglomerate, Votorantim SA. He was previously president of orange juice producer Citrovita SA, which is owned by his family, before founding Natural One. Discussions with rival beverage companies such as Coca Cola Co and Britain's Britvic Plc failed to reach terms that interested Moraes, the sources were quoted saying. Three investment firms also looked at the sale, first reported by Reuters on Nov. 1. At that time, Moraes was seeking a $150 million valuation for the whole company, though he had not yet decided whether to sell the control or a minority stake.


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