PepsiCo extends nuts and seeds business into China
Melbourne-based Select Harvests is the largest nut and healthy foods company in Australia, with more than 4,000 hectares of almonds.
Under the five-year deal, Select will produce and supply its products to PepsiCo, who will be responsible for sales and distribution. Both companies are investing in an advertising and marketing program to launch the brand in China.
The roll out is part of PepsiCo’s ‘daily nutrition’ plan to provide more healthy snacks to Chinese customers.
“As the Chinese economy develops, the demand for more healthy and nutritious products is ever growing,” said Ram Krishnan, president and CEO of PepsiCo Greater China Region. “Entering China's nut products market is an important step in our company's development strategy.”
Nuts about plant-based foods
According to Mark Eva, general manager, consumer, Select Harvest, the partnership with PepsiCo creates a remarkable opportunity for Lucky.
“Lucky has been a favorite brand of nuts and seeds in Australia for over 60 years.
“[The deal] allows Select Harvests to participate in the increased consumption of plant-based foods, nuts and seeds in China, which is accelerating as consumers become more affluent and knowledgeable about the nutritional benefits of nuts and seeds,” he added.
PepsiCo – which generated approximately $64bn in revenue last year – sells its products “one billion times a day in more than 200 countries and territories around the world.”
The Frito-Lay and Quaker oats maker’s portfolio includes a wide range of foods and beverages, including 22 brands that generate more than $1bn each in estimated annual retail sales.