PepsiCo to acquire Brazilian snack company Lucky
04 Oct 2007
Mumbai: Soft drink giant PepsiCo Inc. has agreed to buy Brazilian snack company Comercio de Doces Lucky Ltda, the company said in press release.
Lucky makes a variety of snacks for the Brazilian market, including the popular brands Torcida and Fofura, which together account for the bulk of the company''s revenues.
PepsiCo said the deal includes all of Lucky''s snack brands as well as its call centers and two manufacturing plants.
"This transaction reflects PepsiCo''s long-term commitment to invest in Brazil, and we''re delighted to welcome Lucky and its employees into the PepsiCo family," said Michael White, chief executive of PepsiCo International and vice chairman of PepsiCo.
"Lucky''s brands and its people will be a great complement to our current business and will significantly enhance our growth prospects in Brazil," White said. "Overnight this will give us lots of expertise, added manufacturing capacity and a broader selection of snacks to offer Brazilian consumers.
PepsiCo, one of the world''s largest food and beverage companies, with 2006 annual revenues of more than $35 billion, employs around 168,000 people worldwide, and sells products in approximately 200 countries.
Its main products include Frito-Lay snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana juices and Quaker foods. The PepsiCo portfolio includes 17 brands that generate $1 billion or more each in annual retail sales.
The
deal must, however, be approved by Brazil''s competition authority. The terms of
the deal were also not disclosed.