Teller Report

Now you can see non-English news...

PepsiCo's $ 705 million acquisition of Baicao Flavor lays out China's online snack market

2020-02-24T14:40:52.083Z



China News Online, Feb. 23 (Li Jiajia) PepsiCo announced on the 23rd that it has acquired Hangzhou Haoms Food Co., Ltd., a subsidiary of Haoyou Ni Healthy Food Co., Ltd. (hereinafter referred to as "Haoyou") for $ 705 million. (Hereinafter referred to as the brand name "Bai Cao Wei"), which is one of the leading domestic online snacking companies in China.

Hangzhou Haoms Food Co., Ltd. has its brand name Baicao and is headquartered in Hangzhou. Its products include snacks such as roasted nuts, dried fruits, dried meat and dried meats, pastries and confectionery. Relying on domestic mainstream e-commerce platforms, Baicao sales are mainly based on online channels.

"Bai Cao's rich product categories, asset-light, and e-commerce-focused models are highly complementary to our existing business in China." Said Pei Nan, CEO of PepsiCo Greater China, "We are committed to accelerating the growth of major global markets and further Practice the long-term commitment of 'rooting in China, serving China, and joining hands with China.' Pepsi's outstanding direct terminal consumer capabilities will help Pepsi achieve the growth of the online market. At the same time, Pepsi's local brands can also be used for Pepsi. Brings a diversified product portfolio, suitable for online and offline multi-channel distribution. "

I wish you Chairman Shi Jubin said: "As the world's leading beverage and snack food company, PepsiCo has cultivated in China for many years and has strong channels and innovative capabilities. We believe that PepsiCo will lead Pepsi to achieve further growth. In the future, I miss you It will focus on the main business of red dates, expand local specialty agricultural products, extend the industrial chain around red dates, enhance the value chain, and build a supply chain to achieve 'village rejuvenation and win-win for all parties.' "

Qiu Haoqun, Chairman of Baicaowei, said: "Baicaowei's mission is to 'let more people eat safe and healthy food.' We believe that PepsiCo's brand power, channel power, and global supply chain network will help us further achieve and Expanding on this goal, Baicao and Pepsi are optimistic about the development prospects of snack foods, and they are also committed to improving consumer experience and digital capabilities. "(End)

Source: chinanews

Business 2020-04-09T12:30:30.751Z
business 2020/04/10    

© Communities 2019 - Privacy