FMCG giant PepsiCo has agreed to sell a set of biscuit assets to the Brazilian manufacturer Camil Alimentos.
According to sources, the agreement involves the biscuit brands Mabel, Doce, Mirabel, Elbi’s, and Pavesino and includes a ten-year licencing contract with PepsiCo for the Toddy brand of cookies and the associated production line.
The deal also includes two factories, one in Goiania and another one Sergipe, and Camil will inherit 800 employees from PepsiCo.
Camil Alimentos said: “This acquisition, together with the acquisitions made of new categories and countries in 2021, again reinforces the company’s expansion strategy of identifying, acquiring and integrating operations and strategic assets to expand the portfolio of brands and products in Latin America, giving preference to leading brands in the market”.
The transaction is subject to approval and the financial terms of the agreement were not disclosed.
Source: Just Food