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.
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