PepsiCo To Buy Chinese Snack Company Be & Cheery For $705 Mln

(RTTNews) - 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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