PepsiCo to acquire Chinese snack company Be & Cheery

Based in Hangzhou, Be & Cheery makes products such as nuts, dried fruits, meat snacks, baked goods and confectionery, and predominantly sells online through major e-commerce platforms in China.

Last year, the company reported revenues of approximately USD 711 m (CNY 5 bn). PepsiCo said Be & Cheery’s data-led innovation capability and flexible manufacturing and sourcing enables it to quickly adjust its product portfolio to respond to changing consumer trends.

“Be & Cheery is highly complementary to our existing China business with its broad product portfolio, asset-light model and focus on e-commerce,” said Ram Krishnan, CEO of PepsiCo Greater China.

Haoqun Qiu, chairman of Be & Cheery, added: “Be & Cheery was founded to bring more people convenient and nutritious snacks. We believe PepsiCo’s strong branding and route-to-market capabilities, as well as global supply chain network, will help us deliver and expand on that mission.” Last year, PepsiCo acquired a 26% stake in China-based Natural Food International, which makes a range of products from grains, nuts and beans.