Brazil Flip-Flop Maker Alpargatas Plans Acquisitions, Valor Says

Sao Paulo Alpargatas SA, the maker of Havaianas flip-flops, is considering buying companies in the footwear industry outside Brazil, Valor Economico reported, without saying where it got the information.

The company had almost 500 million reais ($290 million) available for investment as of the end of September, the Sao Paulo-based newspaper said. Alpargatas has seen some “very interesting assets” outside Brazil, the paper cited Chief Executive Officer Marcio Utsch as saying.

Utsch didn’t give details of which companies Alpargatas is looking at or how any talks are progressing, according to the newspaper.

To contact the reporter on this story: Laura Price at lprice3@bloomberg.net

To contact the editor responsible for this story: Helder Marinho at hmarinho@bloomberg.net

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