PepsiCo to purchase Bulgarian nuts, seed company
January 08, 2008
by FoodBusinessNews.net Staff
PURCHASE, N.Y. — PepsiCo, Inc. announced it has reached a definitive agreement to purchase Penelopa, a leading producer and seller of branded nuts and seeds in Bulgaria.
"Penelopa is an outstanding company that will dramatically increase our presence in Bulgaria, a consumer market enjoying robust economic growth, as well as in the Balkans region," said Michael White, PepsiCo vice-chairman and chief executive officer of PepsiCo International. "Furthermore, Penelopa’s line of high-quality nuts and seeds is very consistent with our global focus on addressing consumers’ growing interest in health and wellness."
Penelopa sells peanuts, sunflower seeds and savory snacks throughout Bulgaria primarily through its national direct distribution system.