PepsiCo acquires Peruvian snack maker
April 17, 2009
by Eric Schroeder
PURCHASE, N.Y. — PepsiCo, Inc. has acquired Karinto S.A.C., maker of Los Cuates, Peru’s top-selling corn chips. The transaction also includes Karinto’s manufacturing partner, Bocaditos Nacionales S.A. In total, PepsiCo will acquire two manufacturing plants in Lima, Peru, and all of the companies’ brands, including Fripapas and Papi Frits potato chips and a range of seeds, raisins, mixed nuts and the No. 1 selling peanut brand in Peru. "The Karinto brands span a broad array of snack foods, offering consumers a variety of convenient choices, from tasty treats to healthy options," said Olivier Weber, president of South America Foods for PepsiCo. "Strategically, we continue to strengthen our core snacks business as we extend our presence in healthy, macrosnack occasions, two of our global food growth priorities. These products are a perfect complement to PepsiCo’s portfolio in the region. The strength of the brands and the quality of people who make and sell them represent fuel for growth in an important emerging market — a powerful combination." The acquisition comes less than two years after PepsiCo purchased Comercio de Doces Lucky Ltda., another Brazilian snack company.