According to market sources cited by multiple outlets, Grupo Silvio Santos has agreed to sell its cosmetics brand Jequiti to Grupo José Alves for approximately R$ 536 million. The transaction brings an end to a protracted period of financial instability and operational losses for the firm, which the Abravanel family had spent years trying to offload.
Financial Struggles and the Final Sale to Grupo José Alves
Founded on October 6, 2006, Jequiti grew into one of the most recognizable consumer brands within the family-owned conglomerate. However, market reports indicate that the cosmetics company had been operating in the red for years, prompting ongoing divestment efforts. Those earlier attempts failed to secure a buyer, and a subsequent deal with Grupo CIMED fell through in 2024. Now, Grupo José Alves has met the financial terms and conditions required by Grupo Silvio Santos to finalize the acquisition.
Corporate Profile of Grupo José Alves
Established in 1962 in the state of Goiás, Grupo José Alves operates as a diversified family-held conglomerate spanning beverages, education, healthcare, technology, real estate, and industrial sectors.
Did you know? Jequiti maintained a deep television footprint through the SBT network, most notably via the traditional game show “Roda Roda,” which was rebranded as “Roda Roda Jequiti” from 2008 to 2017 and again during its return from 2021 to 2024.
Frequently Asked Questions
Who bought Jequiti from Grupo Silvio Santos?
Grupo José Alves acquired the cosmetics brand.
What was the purchase price of Jequiti?
Market sources estimate the transaction value at approximately R$ 536 million.
When was Jequiti founded?
The company was founded on October 6, 2006.
What are the primary business operations of Grupo José Alves?
Founded in 1962 in Goiás, Grupo José Alves manages businesses in beverages, education, health, and technology, most notably operating Refrescos Bandeirantes, the Coca-Cola bottler for Goiás and Tocantins.
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