Companies / Bulgaria
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PepsiCo Acquires Local Snack Producer
January 2008 | Company News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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American soft drinks and snacks giant PepsiCo has announced that it has reached an agreement to purchase Penelopa, a leading Bulgarian snack company, although no financial details have been revealed. Established in 1998 by its current owner Yanko Lolov, the company operates one plant in Sliven with around 200 employees. Penelopa produces a range of branded peanuts, sunflower seeds and other snacks, which are distributed throughout the country, primarily through its dedicated distribution network. Such an acquisition is 'very consistent with our global focus on addressing consumers' growing interest in health and wellness', said Michael White, PepsiCo vice chairman and