Kellogg acquired Ritmo Investimentos, controlling shareholder of Brazilian food group Parati Group. The move comes after Kellogg added Bank of Tokyo-Mitsubishi to its receivables purchase facility agented by Rabobank.

“With its outstanding portfolio of popular consumer brands, Parati Group is an excellent strategic fit for Kellogg and our business in Latin America,” said John Bryant, Kellogg Company chairman and CEO. “Brazil is the largest economy in Latin America and this acquisition will allow us to accelerate our growth and improve our margins in the region. This means more growth for the core Parati Group business and our well-loved Kellogg brands.”

The acquisition by Kellogg, through its subsidiary Pringles Serviços e Comércio de Alimentos, is expected to close in late 2016. The purchase price is roughly $429 million, and will be an all-cash transaction. To preserve financial flexibility, Kellogg intends to reduce its expected share repurchases in 2016 to $450 million to $550 million, versus previous guidance of $700 million to $750 million.

In July 2016, Kellogg Funding Company entered into a receivables sales agreement with the company’s sales unit and receivables purchase agreement with Rabobank as purchaser and administrative agent.

According to a related 8-K filing, MUFG was added as an additional purchaser to the receivables purchase agreement, increasing the maximum amount of outstanding uncollected short-term trade accounts receivable to $400 million.