Colombian Group Nutresa announced the final purchase of 100 percent of the shares of American Franchising Corp (AFC), owner of Tico-born company Pops ice cream, in a transaction of approximately $110 million.
Nutresa on Monday will take control of Pops’ 180 parlors distributed throughout Central America and in Florida, U.S., the daily La Nación reported Friday.
As part of the transaction Nutresa also acquired the production plant, Entrepans coffee shops and the distribution franchises of Haagen Dazs and General Mills (Nature Valley, Betty Crocker and Chex Mix) in the region.
Pops started operations in 1968 in San José, with a single ice cream parlor and a small production plant, both located in the same building. It subsequently expanded to the Central American region.