PepsiCo Intends to Purchase a Chinese Retailer for 705 Million Dollars
OREANDA-NEWS. American company PepsiCo has agreed to purchase the Chinese online retailer Haomusi Food Co., Ltd. (Be & Cheery) from Haoxiangni Health Food Co. According to the press service of PersiCo, the amount of the transaction will be 705 million US dollars. The deal needs to be approved by shareholders of Haoxiangni and regulators.
PepsiCo representative said that the corporation has been operating in the Chinese market for almost 40 years and, thanks to the upcoming deal, expects to take a leading position in the food and beverage industry. Be & Cheery sells nuts, dried fruits, as well as meat snacks, bakery and confectionery products.
At present, PepsiCo Inc. owns the brands 7up, Mirinda, Lay’s, Cheetos, Doritos and several others.