PepsiCo Inc. (NYSE: PEP – News) today announced that it has acquired leading Peruvian snack business Karinto S.A.C., maker of Peru’s top-selling corn chips, Los Cuates, as well as a popular line of nuts and seeds.
“The Karinto brands span a broad array of snack foods, offering consumers a variety of convenient choices, from tasty treats to healthy options,” says Olivier Weber, president of South America Foods for PepsiCo. “Strategically, we continue to strengthen our core snacks business as we extend our presence in healthy, macrosnack occasions, two of our global food growth priorities. These products are a perfect complement to PepsiCo’s portfolio in the region. The strength of the brands and the quality of people who make and sell them represent fuel for growth in an important emerging market–a powerful combination.”
Karinto and its manufacturing partner Bocaditos Nacionales S.A. were founded together in Lima in 1968, and the companies have been established leaders in corn-based snacks. Today, beyond Los Cuates chips, their broad portfolio includes Fripapas and Papi Frits potato chips and a large range of nutritious snacks, including seeds, raisins, mixed nuts and the number one-selling peanut brand in Peru. The acquisition includes both companies, including two manufacturing plants in Lima, and all of their brands.
The addition of Karinto’s snacks reflects PepsiCo’s ongoing commitment to transform its portfolio to include a wide range of products, from simple treats to nutritious foods.
This transaction also reflects PepsiCo’s long-term commitment to invest in South America. It follows the recent acquisition of Brazilian snack company Comercio de Doces Lucky Ltda., maker of the popular brands Torcida and Fofura.