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FMCG giant PepsiCo has agreed to sell a set of biscuit assets to the Brazilian manufacturer Camil Alimentos, according to a Just Food report.
The agreement is claimed to involve the biscuit brands Mabel, Doce, Mirabel, Elbi’s and Pavesino and to include a ten-year licencing contract with PepsiCo for the Toddy biscuits brand and the associated production line.
The deal also includes a factory in Goiania and another one Sergipe, with Camil taking on 800 current PepsiCo employees.
Commenting on the deal, 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. Financial terms of the agreement were not disclosed.
Source: Just Food
