September 24, 2018 / 3:51 PM / a month ago

Kroton acquires primary education school in northern Brazil

SAO PAULO, Sept 24 (Reuters) - Brazil's largest for-profit education firm, Kroton Educacional SA, said in a securities filing on Monday it has acquired a primary education school in the northern part of the country for an undisclosed amount.

The acquisition of Centro Educacional Lato Sendu will add 3,800 students to Kroton's primary education subsidiary, dubbed Saber, according to the filing.

The move underscores how investors are playing the education market in Latin America's largest economy. Private primary school chains are replacing for-profit universities as the smart-money bet.

Earlier this month, Brazil's antitrust regulator approved Kroton's acquisition of Somos Educação, with 35,000 students. That acquisition was Kroton's boldest move into the child education market.

Reporting Gabriela Melo Writing by Carolina Mandl Editing by Paul Simao

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