On Friday, October 16, 2026, M. Dias Branco (MDIA3) reported that it had signed an agreement to acquire 80% of the share capital of Grespan Pães Congelados S.A., with a call option for the remaining capital within up to 5 years from the closing of the deal. The transaction is subject to the fulfillment of conditions precedent established in the deal documents and to the other applicable and customary approvals for transactions of this kind.
Grespan, founded in 2009 and headquartered in Marília (SP), operates in the production and sale of frozen bakery products, serving mainly clients in Brazil’s Southeast and Center-West regions. In 2025, the company recorded gross revenue of approximately R$ 139 million.
According to the announcement, the acquisition marks M. Dias Branco’s entry into the frozen bread segment, a category considered complementary to its current portfolio and part of a market with growth prospects. The company states that the move is aligned with its strategy of strengthening its presence in categories adjacent to its core business, expanding its presence in the bakery market and growing its food platform.
The transaction was carried out by Jasmine Indústria e Comércio de Alimentos Ltda. (Jasmine), a subsidiary of M. Dias Branco, with no need for a resolution by the general shareholders’ meeting. Upon completion of the transaction, M. Dias Branco will hold indirect control of Grespan.
The current partners of Grespan will remain in the business for up to 5 years, with the stated goal of maintaining the continuity of the growth strategy, preserving accumulated know-how and aligning interests for the company’s long-term development. Until the conditions precedent are fulfilled, M. Dias Branco and Grespan will continue to conduct their activities independently.
