PepsiCo is aiming to acquire UK based Lincolnshire crisp company Pipers Crisps. PepsiCo already owns American firm Doritos and Leicester-based Walkers Crisps and the latest target acquisition is its aim to grow in the UK.
The transaction is subject to approval by the Competition and Markets Authority.
Pipers were founded by Farmers Alex Albone, Simon Herring and James Sweeting in 2004 and it currently employs more than 75 local people.
According to Pipers’ managing director, James McKinney:
“We’ve developed innovative products to suit evolving tastes while establishing a strong foothold in the market. PepsiCo’s commitment to accelerating the growth of the Pipers brand means more people will be able to enjoy the unique, award-winning flavour of Pipers Crisps.”
UK is among the top crisp market in Europe worth approximately £1.46 billion ($1.87 billion) whereas Germany is worth £760m ($973 million) while France is worth £550m ($703.8 million).
Ian Ellington, PepsiCo UK’s general manager , said the following about the target acquisition:
“The Pipers’ brand has a strong proposition within the market, with stand-out taste, flavours and appeal.”
According to The Grocer magazine’s annual Fast 50 list that named as one of the 50 fastest growing food and drink business in the UK, Pipers now exports to 37 countries worldwide.
The transaction is expected to be completed in early 2019.
PepsiCo is an American multinational food, snack and beverage corporation headquartered in Purchase, New York. PepsiCo has interests in the manufacturing, marketing and distribution of grain-based snack foods, beverages and other products. PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company and Frito-Lay.
PepsiCo’s product mix as of 2015 (based on worldwide net revenue) consists of 53 percent foods, and 47 percent beverages. As of 2015, 22 PepsiCo brands met the mark of $1Bn, including: Pepsi, Diet Pepsi, Mountain Dew, Lay’s, Gatorade, Tropicana, 7 Up, Doritos, Lipton Teas, Brisk, Quaker Foods, Cheetos, Mirinda, Ruffles, Aquafina, Naked, Kevita, Propel, Sobe, H2oh, Sabra, Starbucks (ready to Drink Beverages), Pepsi Max, Tostitos, Mist Twist, Fritos, and Walkers.
About Pipers Crisps
Founded in 2004, Piper was founded by three farmers Alex Albone, Simon Herring and James Sweeting. Pipers is headquartered in UK.