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.

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