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October 3, 2007/Gazeta Mercantil Online (Brazil)/Sao Paulo and October 2, 2007/New York/MarketWatch.com -- PepsiCo, which leads the Brazilian market in salted snacks with its Elma Chips, acquired the second biggest manufacturer in the country, sweet snacks producer Comércio de Doces Lucky, famous for marketing the brands Torcida and Fofura. The transaction still most be approved by Brazil's antitrust agency, the Administrative Council for Economic Defense (Cade). The value of the deal was not disclosed.
In 2006, the market segment moved R$1.97 billion (US$1 billion), representing 18.9% growth over the previous year, according to ACNielsen. In volume, the segment produced 117,300 tons in 2006, up from 113,800 in 2005.
In a communiqué, Michael White, CEO of PepsiCo International and vice-chairman of PepsiCo, said that the "acquisition is an example of PepsiCo's commitment to invest in Brazil."
From the October 8, 2007, Prepared Foods e-Flash
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