Granja Faria S.A. agreed to acquire 90% stake in Vitagema for BRL 34.9 million on March 13, 2024. The payment will discount Vitagema?s net debt, being adjusted to BRL 34.86 million. Of this amount, BRL 13.5 million will be paid in cash and the remainder in monthly installments, according to a note released by Grupo Faria.

In 2023, Vitagema has net revenue of nearly BRL 51 million. The acquisition was approved by Granja Faria?s board of directors and does not require ratification at a meeting. RGS Partners acted as financial advisor to Vitagema.