BRAZIL: PepsiCo buys biscuit manufacturer Mabel
The company said the deal will strengthen PepsiCo's business in Brazil
PepsiCo has today (10 November) confirmed that it has acquired Brazilian biscuit manufacturer Mabel.
Last week, reports circled that PepsiCo was set to buy Mabel but neither PepsiCo or Mabel were immediately available for comment at the time of writing.
As part of the deal, PepsiCo is expected to employ 12,000 people and operate 19 food and beverage manufacturing facilities in Brazil. The deal is expected to strengthen PepsiCo's business in the emerging market, the company said.
John Compton, CEO of PepsiCo Americas foods and global snacks group said: "PepsiCo continues to build its global macro-snacks portfolio and make strategic investments that will drive our business performance and unlock long-term growth opportunities."
"Brazil is an extremely important market for PepsiCo and this acquisition well positions us in a key segment in the snack category there."
The transaction is subject to a post-closing review by Brazil's Council for Economic Defense. PepsiCo did not disclose financial details.
With five manufacturing plants in Brazil, Mabel has the infrastructure to produce more than 1m cookie packages per day, the company said. Mabel offers more than 200 products, including crackers, cookies and wafers.
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