PepsiCo: to buy Chinese snack company Be & Cheery
(CercleFinance.com) - US soft drinks maker PepsiCo said on Monday that it is going to buy Chinese online snacks company Be & Cheery in a deal valued at 705 million dollars, underscoring the company's efforts to strengthen its snack portfolio, as well as its business in China.
Be & Cheery sells nuts, dried fruit, meat snacks, baked goods and confectionery, predominantly online through major e-commerce platforms in China.
Founded in 2003 and headquartered near Shanghai, Be & Cheery is one of the largest online snacks companies in China, with the group reporting revenues of approximately 5 billion yuan (about 700 million euros) in 2019.
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