PepsiCo Takes Stake in Ethiopian Crisps Firm
US food and beverage giant PepsiCo bought stakes in Ethiopian crisps firm, Senselet Food Processing. In a statement, Amsterdam-based Veris said it will continue to maintain a minority interest in Senselet and “partner with PepsiCo to further grow the business and develop potato sourcing programs in Ethiopia”. Financial details relating to the transaction have not been disclosed.
Senselet, founded in 2015, produces Sun Chips, distributed throughout Addis Ababa and other large Ethiopian cities from Senselet’s factory located around 65 km from the capital, and employ more than 150 people. Last month, PepsiCo entered into an agreement to acquire BFY Brands, a global producer of Pop Corners snacks.
Mintesinot Nigussie Asfaw
