PepsiCo said it would use the acquisition to accelerate the growth of Pipers Crisps in the UK, as well as develop its export portfolio. The deal was expected to complete in early 2019.
The planned acquisition of Pipers Crisps comes just three months after PepsiCo agreed to purchase SodaStream in a deal worth $3.12bn (32.5bn).
Ian Ellington, general manager of PepsiCo UK, said: “The Pipers’ brand has a strong proposition within the market, with stand-out taste, flavours and appeal.”
Portfolio of savoury snack brands
Pipers will join PepsiCo’s existing portfolio of savoury snack brands, including Doritos and Walkers Crisps.
James McKinney, managing director of Pipers Crisps, added: “We’ve developed innovative products to suit evolving tastes while establishing a strong foothold in the market.
“PepsiCo’s commitment to accelerating the growth of the Pipers brand means more people will be able to enjoy the unique, award-winning flavour of Pipers crisps.”
Pipers’ range of kettle-cooked, ‘gourmet style’ crisps are sold in the out-of-home environment, including pubs, restaurants, hotels and farm shops in both the UK and abroad.
The manufacturer was recognised in last year’s London Stock Exchange list of 1,000 Companies to Inspire Britain, which detailed the most inspirational and fastest growing small and medium-sized businesses.
The past month has seen a number of acquisitions of food and drink businesses, reported on this website.
Global nutrition firm Glanbia expanded its weight management interests, with the $350m (£265m) acquisition of Kainos Capital’s SlimFast brand, which it planned to integrate into its Performance Nutrition division.
Meanwhile, last week, more than 50 jobs were saved at a Lancashire liquorice-maker after it was bought out of administration by a team of experienced confectionery sector executives.