PURCHASE, N.Y., Oct. 2 /PRNewswire-FirstCall/ -- PepsiCo announced today that it has agreed to acquire Comercio de Doces Lucky Ltda., a Brazilian snack company.
Lucky makes and sells a variety of snack products in Brazil, including the popular brands Torcida and Fofura, which together account for the bulk of the company's revenues. Torcida and Forura are well-known and highly regarded brands in Brazil's fast-growing snack market.
"This transaction reflects PepsiCo's long-term commitment to invest in Brazil, and we're delighted to welcome Lucky and its employees into the PepsiCo family," said Michael White, chief executive officer of PepsiCo International and vice chairman of PepsiCo.
"Lucky's brands and its people will be a great complement to our current business and will significantly enhance our growth prospects in Brazil," White said. "Overnight this will give us lots of expertise, added manufacturing capacity and a broader selection of snacks to offer Brazilian consumers. Lucky also brings a highly efficient selling and distribution model, which has proven very successful at reaching thousands of retail outlets and millions of consumers our existing business does not serve today."
The acquisition includes all of Lucky's snack brands as well as its call centers and two manufacturing plants it operates in or near Sao Paulo.
The transaction is subject to approval by CADE, Brazil's competition authority. Terms of the transaction were not disclosed.
PepsiCo (NYSE:PEP) is one of the world's largest food and beverage companies, with 2006 annual revenues of more than $35 billion. The Company employs approximately 168,000 people worldwide, and its products are sold in approximately 200 countries. Its principal businesses include: Frito-Lay snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana juices and Quaker foods. The PepsiCo portfolio includes 17 brands that generate $1 billion or more each in annual retail sales. PepsiCo's commitment to sustainable growth, defined as Performance with Purpose, is focused on generating healthy financial returns while giving back to communities the company serves. This includes meeting consumer needs for a spectrum of convenient foods and beverages, reducing the company's impact on the environment through water, energy and packaging initiatives, and supporting its employees through a diverse and inclusive culture that recruits and retains world-class talent. PepsiCo is listed on the Dow Jones North America Sustainability Index. For more information, please visit www.pepsico.com.