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Deal for Duyvis and Benenuts Will Make PepsiCo Europe's Leader in Branded Nuts
PURCHASE, N.Y., Nov. 22 /PRNewswire-FirstCall/ -- PepsiCo has reached agreement on the principal terms and conditions for the purchase of Sara Lee Corporation's European nuts business in the Netherlands, Belgium and France for a price of euro 130 million, the company announced today.
The transaction will broaden PepsiCo's portfolio in the European snack market.
The business being purchased sells products under the Duyvis brand in the Netherlands and Belgium and the Benenuts brand in France, the leading nut brands in their respective markets. The products are principally roasted and coated bagged peanuts, but also include mixes, noble nuts and extruded snacks.
"These are top-quality brands with strong market positions," said Michael D. White, chairman and chief executive officer of PepsiCo International. "They will broaden our product portfolio by immediately ...