PepsiCo Inc., the world’s largest snack maker, may announce a deal as soon as tomorrow to buy Brazilian cookie maker Grupo Mabel for 800 million reais ($450 million), a person with direct knowledge of the deal said.
The agreement has been signed, said the person, who asked not to be identified because the transaction isn’t public yet.
Mabel, based in Aparecida de Goiania, Goias, has five factories and is 40 percent-owned by the private-equity fund Icatu. The owner, Sandro Mabel, is a member of the House of Representatives.
Target Assessoria de Comunicacao, the Rio de Janeiro-based communications firm representing Mabel, said as of today the company hasn’t been sold to PepsiCo, according to an e-mailed statement.
PepsiCo declined to comment.
The newspaper O Estado de S. Paulo reported last week that PepsiCo had agreed to a deal, citing unidentified people close to the negotiations.
Source: Bloomberg
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