PepsiCo to Buy Local Nuts Company Penelopa
Updated on: 10.01.2008, 11:49
Published on: 09.01.2008, 11:32
PepsiCo announced on Wedensday, January 9 that was reached an agreement to the purchase of 'Penelopa' - Bulgaria's leading producer and seller of branded nuts and seeds. Local nuts company Penelopa sells peanuts, sunflower seeds and other savory snacks throughout Bulgaria.
The company was founded 10 years. It is located in Sliven and employs almost 200 people. Current owner of Penelopa is Yanko Lolov.
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, Michael White, PepsiCo vice chairman and chief executive officer of PepsiCo International said.
Currently PepsiCo savory snacks under the Lay's, Ruffles, Cheetos and Doritos brands are imported into Bulgaria from Romania, Greece and Turkey.
A variety of PepsiCo beverage brands also are available in Bulgaria, including: Pepsi, Pepsi Light, Pepsi Twist, Pepsi X, 7UP, Mirinda, Evervess, Mountain Dew and Gatorade.
