Deal for Duyvis and Benenuts Will Make PepsiCo Europe's Leader in Branded Nuts
PepsiCo .- Has reached agreement on the principal terms and conditions
for the purchase of Sara Lee Corporation's European nuts business in
the Netherlands, Belgium and France for a price of euro 130 million,
the company announced today.
The transaction will broaden PepsiCo's portfolio in the European snack market.
The business being purchased sells products under the Duyvis brand in
the Netherlands and Belgium and the Benenuts brand in France, the
leading nut brands in their respective markets. The products are
principally roasted and coated bagged peanuts, but also include mixes,
noble nuts and extruded snacks.
"These are top-quality brands with strong market positions," said
Michael D. White, chairman and chief executive officer of PepsiCo
International. "They will broaden our product portfolio by immediately
giving PepsiCo a strong position in branded nuts, a large category
that's increasingly popular among consumers interested in convenience,
great taste and nutrition. This also will give us an important source
of products to sell in other markets where we have an established nut
business."
The transaction is subject to satisfactory outcome of works council
proceedings, as well as regulatory approvals and clearance by the
Dutch competition authority.
PepsiCo International comprises all of the businesses outside the
United States and Canada of PepsiCo, one of the world's largest food
and beverage companies.
PepsiCo's portfolio includes 16 brands that each generate retail sales
of U.S. $1 billion or more, including Pepsi-Cola, Gatorade, Tropicana,
Lay's, Doritos and Quaker.
www.biz.yahoo.com
No comments:
Post a Comment