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PepsiCo-General Mills Snack JV Buys Leading Romanian Snack Company
Purchase, New York, November 18 (ots/PRNewswire) -
- Deal Offers Opportunity to Serve Rapidly Growing Market of 22 Million Via Romania's Largest Distribution System
Snack Ventures Europe, a joint venture of PepsiCo and General Mills, announced today that it has acquired Star Foods, the leading snack food manufacturer and distributor in Romania.
Star Foods offers a full line of snacks, including Star Chips potato chips, Mr. Snacki corn snacks and Krax corn and potato snacks. It has one factory in Bucharest, and its distribution system is the largest among consumer product companies in Romania.
This acquisition gives Snack Ventures Europe (SVE) a strong position in Romania's rapidly growing market of 22 million people. Given that Romania is the largest market in the Balkans and centrally located, it will serve as a hub for manufacturing high-quality snacks for distribution throughout the Balkans. Prior to the acquisition, SVE did not have a presence in Romania.
"We are delighted that Star Foods Romania is now part of the SVE family," said Mike White, chairman and CEO of PepsiCo International. "It is a strong, well-run business with enormous potential. It offers us a great strategic platform for serving consumers across Romania and the Balkan region."
Snack Ventures Europe is a joint venture of PepsiCo and General Mills in Continental Europe. SVE manufactures and sells snack foods in Holland, France, Belgium, Spain, Portugal, Greece, the Baltics, Hungary and Russia. The products marketed by SVE include: 3-Ds, Bugles, Doritos, Fritos, Hamka's, Lay's, Ruffles and Dippas.
PepsiCo is one of the world's four largest food and beverage companies, operating in nearly 200 countries and territories. Its principal brand families include: Frito-Lay snacks; Pepsi-Cola beverages; Gatorade isotonic drinks; Quaker foods and Tropicana juices. PepsiCo International comprises all PepsiCo businesses outside the U.S. and Canada.
General Mills markets some of the world's best loved brands, including Betty Crocker, Haagen-Dazs, Pillsbury, Green Giant, Old El Paso, and Cheerios. Its portfolio includes more than 100 leading U.S. brands and numerous category leaders around the world.
Terms of the transaction were not disclosed.
Web site: http://www.pepsico.com
ots Originaltext: PepsiCo
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Richard M. Detwiler, SVP, Public Affairs of PepsiCo International,
+1-914-253-2725 / FCMN Contact: firstname.lastname@example.org