PepsiCo Announces an Investment of Approximately 5 Billion to Acquire Baicaowei

On the evening of February 23, PepsiCo (NASDAQ: PEP) announced in a circular that it had reached a final agreement with Haoxiangni Health Food Co., Ltd. (hereinafter referred to as the “Haoxiangni”) to acquire Hangzhou Haomusi Foodstuff Co., Ltd. (hereinafter referred to as the “Baicaowei”) with USD 705 million (equivalent to approximately RMB 4.953 billion yuan)

“We are very excited to join the PepsiCo.” Qiu Haoqun, chairman of Baicaowei, expressed that “Baicaowei’s mission is “‘To make more people eat healthy food’. We believe PepsiCo’s brand strength, channel power and global supply chain network will help us further realize and expand this goal.”

He expressed that Baicaowei and PepsiCo are both optimistic about the development prospects of snack foods and are also committed to improving the consumer experience and digital capabilities. “We look forward to working with PepsiCo to accelerate the development of Baicaowei.”