Garoto facts for kids
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| Private | |
| Industry | Food processing |
| Founded | 1929 |
| Headquarters | Vila Velha, Espírito Santo, Brazil |
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Key people
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Heinrich Meyerfreund, Founder Paulo Meyerfreund, Chairman and CEO |
| Products | Confectionery |
| Brands | Talento, Baton |
| Revenue | BRL $2.5 billion (2016) |
| Parent | Nestlé |
| Footnotes / references [1] |
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Chocolates Garoto S.A. is a well-known Brazilian company that makes chocolate. Its main office is in Vila Velha, a city in Brazil. A German immigrant named Heinrich Meyerfreund started the company in 1929. Later, in 2002, a big company called Nestlé bought Garoto.
Contents
History of Garoto Chocolates
How Garoto Started (1929-2001)
The company Chocolates Garoto began on August 16, 1929. Heinrich Meyerfreund, who came from Germany, founded it. At first, it was called H. Meyerfreund & Cia. candy factory. It was in a warehouse in Vila Velha, a city in Brazil.
Garoto started by making a mint candy called Pastilha Garoto. These first candies were sold at tram stops in Vila Velha. Soon, they were also sold to stores in the capital city and other big cities in the state.
In 1934, Heinrich Meyerfreund got some money from his family. He used it to buy machines to make chocolates. Two years later, he got a loan to build a more modern factory. This factory is still where Garoto's main production happens today. With new buildings and chocolate products, the company grew a lot. It started selling chocolates outside of Espírito Santo state.
In 1938, the business got even better when Günther Zennig joined. He brought new money and ideas. He helped make the factory bigger and more modern. He also helped expand how the company sold its products.
Garoto Joins Nestlé (2002-Today)
In 2002, a very large company called Nestlé bought Garoto. They paid about $240 million for it. However, in 2004, Brazil's competition authority, called CADE, stopped the sale. CADE is a group that makes sure companies play fair. They wanted to keep the chocolate market competitive.
So, for many years, Nestlé owned Garoto but they operated separately. Nestlé kept trying to fully combine the companies. In 2016, after more than 10 years of talking, they were close to a deal with CADE. The deal meant Garoto would have to sell some of its brands. This was to make sure one company didn't control too much of the chocolate market.
Garoto's Products
Today, Garoto is one of the biggest chocolate makers in Brazil. It sends its chocolates to many different countries around the world. Garoto's chocolate bars are sold by various stores. For example, the store Walgreens used to sell Garoto candies under the name Regal Dynasty. Now, they get their candies from a different supplier.
Sponsorships
On January 16, 2013, Garoto signed a big deal. They paid 200 million reais to FIFA and the CBF. This made Garoto the official chocolate for the Confederations Cup in 2013. They were also the official chocolate for the 2014 World Cup, which was held in Brazil.
See also
