Neither party revealed financial details of the transaction, which has been signed and finalized.
Mavalério makes toppings, fillings, chocolates, sprinkles, flakes, powdered mixtures, colored sugars, and flavors.
Owned and jointly run by the Bettin family, which bought the company in 1979, Mavalério is one of the largest decorative confectionery manufacturers in Brazil, selling 31,000 tons of product each year to more than 7,000 customers.
Dr Oetker’s core markets are in Europe but it also has a presence in North and South America, Africa, Asia and Australia, and it is active in 43 countries around the world.
In 2018, it reported sales of €2.59 billion (US$2.9bn).
On the acquisition, which was announced yesterday (22 July), the CEO of Dr Oetker, Albert Christmann, said: "Brazilians have a great affinity for confectionery products and this is therefore an important step forward for Dr. Oetker in Brazil.
"While we have been successfully driving the dessert market with our Dr Oetker brand for many decades, we are now thrilled to strengthen our position in the baking category in Brazil as well.”
“Mavalério, being an innovator and pioneer, uses its leading market position in the decorating industry to drive market trends by offering countless products varying in taste, color, texture, and shape as well as culinary classes and recipes to the Brazilian consumers.”
Headquartered in Itatiba, near São Paulo, with a site in the US, Mavalério has a consumer-facing range as well as a foodservice division and supplies ingredients in bulk for bakery, confectionery, ice cream, and general food manufacturers.
"With joint forces, we will expand the business and its brands to increase our footprint in Brazil and Latin America."
Mavalério’s CEO, Gino Bettin, said the company was impressed by Dr Oetker's corporate culture, product range, and international footprint.
"We look forward to Dr. Oetker Brasil‘s expansion in the Brazilian market and are eager to see the future growth of our brand Mavalério in the hands of the Oetker family," he said.
