On February 23, PepsiCo announced that it had reached a definitive agreement with Hao Xiang Ni to buy its subordinate company Hangzhou Hao Mu Si Food( referred to BE&CHEERY) for $705 million. On the evening of February 23, Hao Xiang Ni lasted announcement showed that planned to sell 100% of Hao Mu Si to Pepsi beverages through a cash sale.
After the completion of the transaction, the company will focus on the original jujube related business, with high-end jujube Hao Xiang Ni as brand positioning. By integrating the company's resource advantages and taking advantage of the industrial opportunity of jujube futures hedging, the company can further improve its market share in jujube market and consolidate its leading position in the global jujube industry.
Source: China Network
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