Global snacks and drinks giant PepsiCo has acquired a stake in Natural Food International, one of China’s largest natural food firms, according to media reports.
PepsiCo’s 26% stake in the Shenzhen-based company will reportedly make it Natural Food International’s second largest shareholder.
Natural Food International makes products from grains, nuts, and beans, with a focus on grain-based premium nutrition powder. Described as China’s second largest natural food producer by retail sales, it offers products under the Wugu Mofang brand.
“Natural Food is an outstanding business with a strong growth and profitability track-record, and our investment marks an important step in our commitment to grow ‘in China, for China’,” said Ram Krishnan, CEO of PepsiCo Greater China. “We have significant regard for the company’s founders and its management team for what they have achieved, and we are excited to work together with them to grow this company even further and create value as they make, move and sell products”.
Source: Food Business Africa / CNN / Food Business News