PepsiCo completes business negotiations with Mabel
PepsiCo is expanding its biscuit business by taking over Brazilian manufacturer Mabel.
PepsiCo has announced it is to acquire the Brazilian biscuit manufacturer Mabel as it continues to expand its empire.
It represents a significant investment as the country is the largest cookie and cracker producer in the world, while the foodstuff can be found in 98 per cent of Brazilian homes.
Now that the business negotiations have been completed, PepsiCo can look forward to welcoming the Mabel, Elbi's, Kelly and Skiny brands.
John Compton, chief executive officer of PepsiCo Americas Foods and Global Snacks Group, noted the agreement is a sign it will continue to add to its global macro-snacks portfolio and "make strategic investments" wherever they are deemed to be fit.
He added the firm - which is looking to become the world's premier consumer products company - is also looking to unlock "long-term growth opportunities" by completing the acquisition.
At present, PepsiCo offers 19 product lines throughout the globe.
Posted by Ken Hayes
Source: PepsiCo press release, November 11th