With the acquisition, Martins returns to Brazil's education sector after selling a language education chain he founded to Britain's Pearson Plc three years ago, for 2 billion reais.

Since then, Martins acquired Brazilian health foods store chain Mundo Verde Ltda for an undisclosed value.

Wise-Up, which is controlled by Brazilian entrepreneur Flávio Augusto da Silva, operates 250 foreign language schools in Brazil and expects to reach 320 units by year-end.

(Reporting by Tatiana Bautzer; Editing by Christian Plumb and Sandra Maler)