VEVEY, SWITZERLAND — Nestle SA has signed an agreement with Advent International to acquire a majority stake in the Brazilian premium chocolate company Grupo CRM. Financial details of the transaction were not disclosed.

Grupo CRM manages a direct-to-consumer model that includes more than 1,000 “chocolate boutiques” under the Kopenhagen and Brasil Cacau brands as well as an expansive online presence, Nestle noted. Kopenhagen was founded in 1928 and has evolved through product innovation and consumer experience. The company owns several chocolate brands in Brazil such as Língua de Gato, Nhá Benta, Lajotinha, Chumbinho and Cherry Brand. Brasil Cacau, meanwhile, is a separate chocolate brand that launched in 2009 and is sold in hundreds of “branded stores” throughout Brazil.

Renata Moraes Vichi, who has been with Grupo CRM for 25 years and has significantly grown the company during her tenure, will continue to lead Grupo CRM as chief executive officer and also will hold the title of minority shareholder.

“This acquisition further broadens and strengthens our confectionery presence in Brazil, enabling us to enter the high-end segment,” said Laurent Freixe, CEO of Zone Latin America at Nestle. “Kopenhagen and Brasil Cacau offer premium chocolates that are highly appreciated by Brazilian consumers. We are pleased that Renata Vichi will continue to lead the company with her deep knowledge and passion for the chocolate business, people and brands. Together, we will explore opportunities to further enhance the company’s unique premium chocolate experience.”

Nestle said it has a strong confectionery business in Brazil, and the transaction is expected to help the company grow in the high-end gifting segment. As part of the transaction, Nestle will support Grupo CRM’s sustainability ambitions.