PepsiCo signs definitive agreement to acquire Be and Cheery for $705 millionChristian Fernsby ▼ | February 24, 2020
PepsiCo announced that it has entered into a definitive agreement to acquire Hangzhou Haomusi Food or Be and Cheery, one of the largest online snacks companies in China, from Haoxiangni Health Food for $705 million.
Acquisition Be and Cheery
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Based in Hangzhou, Be and Cheery has many product offerings across nuts, dried fruits, meat snacks, baked goods and confectionery, and predominantly sells online through the major ecommerce platforms in China.
The company’s strong data led innovation capability and flexible manufacturing and sourcing enables it to quickly adjust its product portfolio to respond to changing consumer trends. ■