SHANGHAI, February 23, 2020 – PepsiCo, Inc. (NASDAQ: PEP) (“PepsiCo”) today announced that it has entered into a definitive agreement to acquire Hangzhou Haomusi Food Co., Ltd. (“Be & Cheery”), one of the largest online snacks companies in China, from Haoxiangni Health Food Co., Ltd. (002582.SZ) for US$ 705 million. PepsiCo has been operating in China for nearly 40 years and this transaction marks an important step in the company’s goal to become China’s leading consumer-centric food and beverage company . . .
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