PURCHASE (dpa-AFX) - PepsiCo Inc. (PEP) said that it agreed to buy Chinese online snack company Hangzhou Haomusi Food Co. Ltd. or 'Be & Cheery' from Haoxiangni Health Food Co. Ltd. for $705 million.
Based in Hangzhou, Be & Cheery has many product offerings across nuts, dried fruits, meat snacks, baked goods and confectionery, and predominantly sells online through the major e-commerce platforms in China.
The deal is subject to a Haoxiangni shareholder vote, certain regulatory approvals and other customary conditions.
Copyright RTT News/dpa-AFX