PepsiCo acquires Brazilian cookie manufacturer

US-based beverage and snack company PepsiCo has acquired the leading Brazilian cookie and cracker manufacturer Brazil Mabel to strengthen its presence in Latin America’s emerging markets.

The financial details of the transaction have not been disclosed, but the deal is estimated to be worth $520m, according to people familiar with the matter.

With the acquisition, PepsiCo gains control over brands such as Mabel, Elbi’s, Kelly and Skiny, which will complement its own brands in Brazil – Elma Chips, Quaker, Toddy Chocolate Powder and Toddynho Chocolate Milk.

PepsiCo Americas foods and global snacks group CEO John Compton said that Brazil is an extremely important market for the company, and the acquisition strengthens its positions in the snack category.

PepsiCo now owns 19 food and beverage manufacturing plants across Brazil.

Brazil’s Council for Economic Defence is set to conduct a post-closing evaluation on the deal.