Mexico City, Mexico - Grupo Herdez has reached an agreement to acquire the Nestle ice cream business in Mexico, in a transaction valued at one billion pesos.

In a filing with the Mexican Stock Exchange, Herdez said the acquisition includes an ice cream plant in Lagos de Moreno, Jalisco, distribution equipment and freezers as well as a long-term exclusive license to market and sell the Nestlé Ice Cream brands in Mexico.

"Nestlé Ice Cream is one of the leaders in the category of ice cream and frozen desserts, particularly in the segment for children and youth, with a portfolio that includes Nestlé, Mega, PelaPop brands and eXtreme, among others, reaching over 40,000 Sales points throughout the country," Herdez said in the statement.

In addition, the company said the agreement contemplates retaining the entire team of Nestlé Ice Cream employees, ensuring the conservation of the company's labor resources.

"This acquisition will bring significant synergism to our ice cream business and increase our scale and leadership in this category, which has high growth potential. We hope to welcome the Nestlé Ice Cream team and we're enthusiasm about this great opportunity to approach the youth segment, strengthening our presence in the traditional channel in Mexico," said Hector Hernandez-Pons Torres, chairman and CEO of Herdez.