PepsiAmericas confirm receipt of proposal from PepsiCo
MINNEAPOLIS PepsiAmericas, Inc. confirmed Monday that it has received a non-binding proposal from PepsiCo to acquire all of the outstanding shares of PepsiAmericas’ common stock that are not already owned by PepsiCo for $23.27 per share, consisting of $11.64 per share in cash, plus 0.223 shares of PepsiCo common stock.
PepsiAmericas’ board of directors will review the proposal carefully and determine the appropriate response, the company stated. The company also stated that they have advised shareholders to take no action, pending the review by the board of directors.
PepsiAmericas is the world’s second-largest manufacturer, seller and distributor of PepsiCo beverages.
PepsiCo acquires Karinto snack business in Peru
PURCHASE, N.Y. PepsiCo announced that it has acquired leading Peruvian snack business Karinto S.A.C., maker of Peru’s top-selling corn chips, Los Cuates, as well as a popular line of nuts and seeds.
“The Karinto brands span a broad array of snack foods, offering consumers a variety of convenient choices, from tasty treats to healthy options,” said Olivier Weber, president of South America Foods for PepsiCo. “Strategically, we continue to strengthen our core snacks business as we extend our presence in healthy, macrosnack occasions, two of our global food growth priorities. These products are a perfect complement to PepsiCo’s portfolio in the region. The strength of the brands and the quality of people who make and sell them represent fuel for growth in an important emerging market — a powerful combination.”
The addition of Karinto’s snacks reflects PepsiCo’s ongoing commitment to transform its portfolio to include a wide range of products. This transaction also reflects PepsiCo’s long-term commitment to invest in South America. It follows the recent acquisition of Brazilian snack company Comercio de Doces Lucky Ltda., maker of the popular brands Torcida and Fofura.
Newman’s Own seeks to expand company charity project
WESPORT, Conn. Beginning April 20, Newman’s Own, Inc. will continue its effort as a national sponsor of a charity that provides children with serious illnesses and conditions a camping experience of the highest quality, while extending year-round support to their families and health care providers.
Paul Newman’s Hole in the Wall Camps is the largest family of camps for children with serious medical conditions. The Camps offer children hope and healing through therapeutic recreation, universally accessible activities, and round-the-clock medical care. Camp services help restore a sense of normalcy to lives turned upside down by serious illness, and it is all done free of charge.
As a national sponsor, support from Newman’s Own, Inc. will be used to recruit and support additional runners and cyclists to help more kids to attend all 13 Hole in the Wall Camps.
“What began with a handful of runners and cyclists supporting The Hole in the Wall Gang Camp in Connecticut has become a national and international endeavor,” said Mike Smiles, chief development officer at The Hole in the Wall Gang Fund, Inc. “This national sponsorship from Newman’s Own, Inc. will help share the Team Hole in the Wall athletic fundraising initiative that partners athletes with the mission of the Hole in the Wall Camps.”
Team Hole in the Wall participants have raised more than $4.2 million since the program’s inception in 2004. Thanks to the Team, thousands of children have enjoyed empowering and life-affirming experiences at Hole in the Wall Camps across the globe. The Camps that comprise the global Association of Hole in the Wall Camps include: Camp Boggy Creek, Fl.; Double H Ranch, N.Y.; Flying Horse Farms, Ohio; The Hole in the Wall Gang Camp, Conn.; The Painted Turtle, Calif.; Roundup River Ranch, Colo.; Victory Junction, N.C.; Barretstown, Ireland; Bator Tabor, Hungary; Dynamo Camp, Italy; L’Envol, France; Jordan River Village, Israel; and Over the Wall, U.K.