PepsiCo takes over Bulgarian Penelopa

According to media reports, PepsiCo has reached a definitive agreement to purchase Bulgaria-based Penelopa, a producer and seller of branded nuts and seeds. Terms of the agreement were not disclosed. Currently PepsiCo savory
snacks under the Lay’s, Ruffles, Cheetos and Doritos brands are imported into Bulgaria from Romania, Greece and Turkey.

Michael White, PepsiCo vice chairman and CEO of PepsiCo International,said: “Penelopa is an outstanding company that will dramatically increase our presence in Bulgaria, a consumer market enjoying robust economic growth, as well as in the broader Balkans region. Furthermore Penelopa’s line of high-quality nuts and seeds is very consistent with our global focus on addressing consumers growing interest in health and wellness.”