Pepsico takes stake in Calbee;Frito-Lay Japan becomes part of expanded company

Frito-Lay for news

Pepsico takes stake in Calbee;Frito-Lay Japan becomes part of expanded company

June 24, 2009
Pepsico Inc. is acquiring a stake in Calbee Foods Co., Japan’s biggest producer of potato chips and shrimp crackers, as part of a push to sell more snacks overseas.

PepsiCo, the world’s biggest snack-food maker, said in a statement it will exchange its Frito-Lay Japan business and an undisclosed amount of cash for a 20 percent stake in the expanded company. Calbee had sales of about $1.3 billion in the year ended March 2009, compared with approximately $100 million in annual revenue for Frito-Lay Japan. Purchase, New York-based PepsiCo will hold a seat on Calbee’s board.

The transaction, approved today by Calbee’s shareholders, is subject to Japanese regulatory approval.   Press release Calbee, Pepsico
Like to receive news like this by email? Join and Subscribe!
Join Our Telegram Channel for regular updates!
Sponsored Content

Highlighted Company

Sponsored Content

Sponsored Content
Sponsored Content
Sponsored Content
Sponsored Content

Where

Sponsored Content