US/PERU: PepsiCo acquires Karinto snack business
Food and beverage giant PepsiCo has acquired Peruvian snack business Karinto, the US group announced today (17 April).
PepsiCo said the deal would help it to "transform" its portfolio to include a wide range of products, "from simple treats to positively nutritious foods".
The transaction also follows the recent acquisition of Brazilian snack company Comercio de Doces Lucky, maker of the popular brands Torcida and Fofura.
"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, macro-snack occasions, two of our global food growth priorities.
Weber added: "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 includes both Karinto and its manufacturing partner Bocaditos Nacionales, as well two manufacturing plants in Lima and all of their brands, which include Los Cuates, Fripapas and Papi Frits.
The companies did not disclose financial details of the transaction.
In a week when two of the UK's Big Four issued sales numbers, it is perhaps unsurprising that the spotlight should shine on how their respective CEOs see their businesses performing. Away from Tesco a...
Drinks giants Anheuser-Busch and PepsiCo have agreed to jointly purchase indirect goods and services in the US from technology hardware to travel....
Saudi-based dairy group Almarai posted an increase in net profit for the first nine months of the year....
The retail scene dominated just-food's headlines this week. In the UK, we saw the bosses of Tesco and Sainsbury's have, shall we say, a difference of opinion on how their businesses were performing. O...
PepsiCo has once again highlighted the opportunity for revenue growth presented by emerging markets such as China....
Falling costs and investments in innovation have helped PepsiCo today (8 October) report a solid profit performance in its third quarter of 2009, despite a dip in revenues....
A coalition of around 40 US retailers, non-governmental organisations and food and beverage manufacturers have joined forces to create an organisation designed to help reduce obesity....
PepsiCo has appointed Jaya Kumar as president of Quaker Foods & Snacks, which will see him lead the $2 billion operating unit, with a portfolio of brands that includes Quaker hot cereals and Chewy gra...
- On the money: Unilever shifting into growth spots
- On the money: Danone denies strategy overhaul
- The just-food interview: Premier Foods CEO Darby
- Comment: Danone could be mulling strategy shift
- Why whole sector should take heed of meat scrutiny
- Unilever sees lacklustre H1 food sales
- Danone H1 profits down but sticks to FY goals
- Hovis eyes Leicester bakery closure
- Tyson sells Mexico, Brazil ops to JBS
- FSA ordered to carry out review on 2 Sisters