The Brazilian subsidiary of PepsiCo has reportedly purchased one of the South American country's biggest cookie and cracker producers.
The O Estado de S. Paulo newspaper is reporting that PepsiCo do Brasil has agreed to pay between 800 and 900 million reals (between $460 and $517 million) for Mabel, described as one of Brazil's five biggest cookie and cracker producers with a daily production capacity of 1.5 million packages.
The newspaper said Wednesday that PepsicCo's offer was larger than that of Bunge Inc. of the U.S. and Mexico's Grupo Bimbo, which were also interested in acquiring Mabel.
Calls to Mabel and PepsiCo for comment went unanswered on Wednesday, a national holiday in Brazil.
(This version CORRECTS translation to 'cookie and cracker' instead of 'biscuit.' APNewsNow.)