PepsiCo to acquire snack company in Brazil
October 02, 2007
by FoodBusinessNews.net Staff
PURCHASE, N.Y. — PepsiCo, Inc. has agreed to acquire Brazilian snack company Comercio de Doces Lucky Ltda.
"This transaction reflects PepsiCo’s long-term commitment to invest in Brazil … Overnight this will give us lots of expertise, added manufacturing capacity and a broader selection of snacks to offer Brazilian consumers," said Michael White, chief executive officer of PepsiCo International and vice-chairman of PepsiCo. "Lucky also brings a highly efficient selling and distribution model, which has proven very successful at reaching thousands of retail outlets and millions of consumers our existing business does not serve today."
Lucky produces various snacks in Brazil, including the successful and growing Torcida and Fofura brands. The acquisition includes all of Lucky’s snack brands, call centers and two manufacturing plants, and the transaction is subject to approval by Brazil’s competition authority.