An affiliate of HIG Capital (HIG) has completed the acquisition of Nadir Figueiredo Indústria e Comércio (Nadir), the largest glass tableware producer in Brazil and the sixth largest in the world.

The transaction value was approximately BRL1 billion (242.8 million.

Founded in 1912 in the state of São Paulo, Nadir has a complete product portfolio of more than 2,000 SKUs, reaching approximately 1,200 customers in the retail as well as commercial food and beverage industries, both in Brazil as well as in 67 other countries.

The company built a 107-year success story in Brazil as a result of its high-quality products and long-standing relationships with all major distributors and retailers. Nadir can be found in nearly every household across all Brazilian states.

Fernando Marques Oliveira, Managing Director and Head of HIG Brazil and Latin America, says: “We are very pleased to have completed the acquisition of Nadir Figueiredo. Morvan Figueiredo, José Eduardo Vidigal, and the management team have done an outstanding job in the last decades of building a truly unique industrial platform.”

“We are very gratified to entrust Nadir’s future to HIG Capital. HIG’s solid track record and long-term view will add value to the company founded by our family more than 100 years ago,” said Morvan Figueiredo and José Eduardo Vidigal Pontes.