PepsiCo acquires a company in China

PepsiCo has signed an agreement to acquire Be & Cheery, a Chinese snacking company. The deal will total 705 million USD – the companies announced.

Be & Cheery sells mainly seeds and dried fruits through Chinese e-commerce sites. PepsiCo said that the acquisition was an important step for the US conglomerate to become a market leader in China. (origo)