Latin America is one of a number of emerging markets PepsiCo said it was considering as “important” to its future growth, following today’s (17 April) acquisition of Peruvian snack business Karinto.
A spokesperson for PepsiCo told just-food that, although small, the acquisition of Karinto was “relative” in the scope of its global business.
“This is a smaller piece of the overall picture but locally it is the number one chips and peanuts brand in Peru,” the spokesperson said.
“Latin America in general is one of a number of emerging markets we consider very important to our growth globally. Brazil is also a key market of ours and this is part of an ongoing strategy to expand into emerging markets and to expand in the snack sector.”
PepsiCo said that the transaction today reflects the company’s ongoing commitment to “transform” its portfolio to include a wide range of products, “from simple treats to positively nutritious foods”.
It also follows the recent acquisition of Brazilian snack company Comercio de Doces Lucky, maker of the popular brands Torcida and Fofura.
The spokesperson said that expanding into snacks and beyond some of its core chips brands was “important”.
“One thing I found of particular interest was that raisins were included in the deal. We have products that contain raisins, like Quaker Oats and various brands of trail mix, but the raisins in this deal caught my attention.
“We look at acquisitions case by case. We review opportunities across the world on an ongoing basis and determine how each opportunity fits with our broader strategies.”