Brazilian tableware manufacturer Nadir Figueiredo has been sold to a subsidiary of US financial company HIG Capital for R$836,265 million ($222.98 million).

In a financial statement published on Friday, the glassmaking company said 97.67% of its shareholders had approved the sale to Flamengo Participacoes, a subsidiary of HIG.

Nadir said: “The transfer of share control will not cause disruption or change in our strategy or business model. Therefore, all our Nadir Figueiredo product lines will continue to be available in the market.

“For Nadir Figueiredo, a consolidated company in the local and global markets, the business concretization strengths its history, providing even more strength to continue growing and bringing even more business opportunities, which will directly and positively reflect our staff, clients and providers.

HIG Capital is a global private equity investment company, which seeks to generate positive economic impact and long-term value for its investors. The objective of the acquisition is to diversify its business portfolio in Latin America.