PepsiCo Buys Chinese Snack Company Be & Cheery for $700 Million
PepsiCo (NASDAQ: PEP) announced over the weekend that it has struck a deal to purchase a Chinese online snack retailer for $700 million . Be & Cheery sells nuts, dried fruits, meat snacks, and baked goods in the country through its robust e-commerce sales platform.
Image source: Getty Images.
The acquisition brings one of China's biggest online snack marketers under the Pepsi umbrella. It checks two major growth boxes, given its focus on e-commerce and its established portfolio in the booming China geography. "Be & Cheery is highly complementary to our existing China business," a Pepsi executive said in a press release. The acquisition will give Pepsi instant infrastructure to deliver snacks, plus a wealth of real-time consumer spending data.
Source Fool.com
