PepsiCo, the US-based snack foods firm, has taken a significant stake in the Ethiopian crisp firm Senselet.
Veris Investments, the private equity fund which founded Senselet in 2015, said it would continue to maintain a minority interest in the firm and would partner with PepsiCo to further grow the business and develop potato sourcing programmes in Ethiopia.
Distributed in Addis Ababa and other large Ethiopian cities, Senselet’s flagship Sun Chips brand is available in the flavours Habesha Spice, Paprika and Natural, and is described as being produced from locally-sourced potatoes. The firm operates a production facility around 65 km from Addis Ababa and employs more than 150 people.
Commenting on the move, Veris Investments managing director Juliette de Wijkerslooth said: “PepsiCo shares our commitment to work with small and medium scale Ethiopian farmers as well as developing the potato value chain and sustainable farming in Ethiopia. Having PepsiCo as a partner will enable Senselet to leverage their extensive global expertise on potato cultivation, manufacturing and go-to-market capabilities as to further grow the company”.
Source: Veris Investments