October 01, 2024 13:36 GMT
CONSUMER STAPLES: Pepsi (A1/A) confirms $1.2b purchase of chips manufacturer
CONSUMER STAPLES
As expected after o/n WSJ leaks, confirms buying Siete for $1.2b - bolt-on size for it.
We are more interested in how organic growth is doing after volume declines for most of this year. It is not being helped by the smaller Quacker foods NA (cereal segment) facing double digit declines on the salmonella contamination linked product recalls (first emerged in Dec 2023).
3Q results (3m to early Sept) comes on Tuesday (8th).
Presser here
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