Page 24 - THE SOUTH CHINA BUSINESS JOURNAL
P. 24
MUNITY NEWS
PEPSICO ACQUIRES BE & CHEERY
PepsiCo, Inc. (NASDAQ: PEP) (“PepsiCo”) Ram Krishnan, CEO of PepsiCo’s APAC
has obtained Chinese government Sector says: “Partnering with Be &Cheery is
regulatory approval on its acquisition of a major milestone in PepsiCo’s “In China,
Hangzhou Haomusi Food Co., Ltd (“Be For China, With China” commitment. With
& Cheery”), one of the largest convenient this acquisition, PepsiCo has invested over
foods companies in China. The transaction RMB 53 billion (US$740 MM) over the last
closed June 1, 2020. The transaction, which 10 years in China, one of our most important
is in line with PepsiCo’s committment to markets globally.”
becoming China’s leading consumer-centric
food and beverage company, is expected Post closing, Be &Cheery will operate as
to benefit associates and local partners of an independent Business Unit as part of
both companies as PepsiCo looks to create PepsiCo’s APAC Sector. Chairman Haoqun
sustained growth and development of Qiu will continue to lead and accelerate the
China’s convenient foods market. growth of Be & Cheery. Simultaneously,,
PepsiCo will work closely with Be &Cheery’s
Founded in 2003 and headquartered in founding management team to inject core
Hangzhou, Be & Cheery is a convenient capabilities and unlock synergies to better
foods company with operations spanning serve China’s consumers. We see significant
R&D, manufacturing, sales, storage and opportunities to create business value
logistics. It has a broad product portfolio across the entire value chain, especially:
including nuts, dried fruits, dried meat,
pastries, puffing foods with over 1000 SKUs. • Make
Led by data-driven product innovation
and a flexible supply chain, Be & Cheery is Be &Cheery enjoys a highly flexible and
stepping towards omin-channel presence asset-light supplier model while PepsiCo has
through online and offline channels, deeply rooted agricultural, manufacturing
interacting with over 70 million active and global procurement advantages.
consumers. Together with our partners, we could provide
more stable and optimized sourcing and
21 AMCHAM SOUTH CHINA manufacturing solutions;
PEPSICO ACQUIRES BE & CHEERY
PepsiCo, Inc. (NASDAQ: PEP) (“PepsiCo”) Ram Krishnan, CEO of PepsiCo’s APAC
has obtained Chinese government Sector says: “Partnering with Be &Cheery is
regulatory approval on its acquisition of a major milestone in PepsiCo’s “In China,
Hangzhou Haomusi Food Co., Ltd (“Be For China, With China” commitment. With
& Cheery”), one of the largest convenient this acquisition, PepsiCo has invested over
foods companies in China. The transaction RMB 53 billion (US$740 MM) over the last
closed June 1, 2020. The transaction, which 10 years in China, one of our most important
is in line with PepsiCo’s committment to markets globally.”
becoming China’s leading consumer-centric
food and beverage company, is expected Post closing, Be &Cheery will operate as
to benefit associates and local partners of an independent Business Unit as part of
both companies as PepsiCo looks to create PepsiCo’s APAC Sector. Chairman Haoqun
sustained growth and development of Qiu will continue to lead and accelerate the
China’s convenient foods market. growth of Be & Cheery. Simultaneously,,
PepsiCo will work closely with Be &Cheery’s
Founded in 2003 and headquartered in founding management team to inject core
Hangzhou, Be & Cheery is a convenient capabilities and unlock synergies to better
foods company with operations spanning serve China’s consumers. We see significant
R&D, manufacturing, sales, storage and opportunities to create business value
logistics. It has a broad product portfolio across the entire value chain, especially:
including nuts, dried fruits, dried meat,
pastries, puffing foods with over 1000 SKUs. • Make
Led by data-driven product innovation
and a flexible supply chain, Be & Cheery is Be &Cheery enjoys a highly flexible and
stepping towards omin-channel presence asset-light supplier model while PepsiCo has
through online and offline channels, deeply rooted agricultural, manufacturing
interacting with over 70 million active and global procurement advantages.
consumers. Together with our partners, we could provide
more stable and optimized sourcing and
21 AMCHAM SOUTH CHINA manufacturing solutions;
