PepsiCo Inc has agreed to buy Chinese snack brand Be & Cheery from local jujube maker Haoxiangni Health Food Co Ltd for $705 million, the companies said. The US multinational food and beverage maker said the acquisition of Be & Cheery, which sells snacks from nuts to dried fruits mainly on Chinese e-commerce platforms, was an important step in its goal to become China's leading consumer-focused food and beverage company.

PepsiCo Inc has agreed to buy Chinese snack brand Be & Cheery from local jujube maker Haoxiangni Health Food Co Ltd for $705 million, the companies said. The US multinational food and beverage maker said the acquisition of Be & Cheery, which sells snacks from nuts to dried fruits mainly on Chinese e-commerce platforms, was an important step in its goal to become China's leading consumer-focused food and beverage company. Also Read: Pepsi Co's advertising blitz drives profit beat, solid forecast "Be & Cheery adds direct-to-consumer capability, positioning us to capitalise on continued growth in e-commerce, and a local brand that can stretch across a broad portfolio of products, through both online and offline channels," Ram Krishnan, CEO of PepsiCo Greater China, said in a statement on Sunday. "We also expect to leverage Be & Cheery's innovation and consumer insights capabilities to drive innovation in other key PepsiCo growth markets." Also Read: In a bid to curb plastic pollution, Pepsi and Coca Cola sever ties with Plastics Industry Association Haoxiangni, which is based in the eastern city of Hangzhou, said in a separate filing that it had decided to sell as it wanted to focus on the jujube business. Founded in 2003, Be & Cheery is one of the largest online snack companies in China and reported revenues of about 5 billion yuan ($711.7 million) in 2019, the companies said. The transaction is subject to a Haoxiangni shareholder vote, certain regulatory approvals and other customary conditions, they said.

Chinese snack brand Be & Cheery sold to Pepsico for $705 million

India has a huge potential and the real question is the speed of growth and how many roadblocks it is willing to remove, former PepsiCo chairperson Indra Nooyi has said. 
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Nooyi, in October last year, stepped down as the CEO of the global beverage giant, after 24 years with the company, the last 12 as its CEO.

“The country does have huge potential, talent wise, population, everything, the country has huge potential. The real question is the speed of growth and how many roadblocks are we willing to remove,” Nooyi said responding to a question on India and its growth potential during an interaction hosted by the Consulate General of India in the city on Thursday.

“India has got to do what is right for India. I am not the person to opine on that. India has got to do what is right for India, just as Europe should do what is right for Europe,” she said.

Nooyi was the guest speaker at the ‘New India Lecture’ series, organised by the Consulate under the aegis of Consul General Sandeep Chakravorty and in partnership with the US-India Strategic Partnership Forum (USISPF).

On the various geopolitical uncertainties around the world and their impact on the global economic and social sphere, she said there have been many times in the past where there has been geopolitical uncertainty.

“It’s been in different forms but it’s always been there. Big companies just learn to power through.”

Nooyi said she has always said that “when you go into any country, you have got to act as though you are the citizen of that country. You can’t go in there and say everything is going to be done my way. Except for the ethics and governance aspect, everything else is local.

“As long as you go into a country and develop a local model and execute it locally, you live within the rules of that country. Don’t compromise your corporate governance principles.

“You have got to be aware of politics, be sensitive to all the minefields, but don’t play in them, don’t take a voice in them because that is a losing proposition,” she said, adding that if companies have knowledge of what’s going on but they just focus on doing their business, they will be successful.

Nooyi, answering a question on where does she see a balance between online retail and brick and mortar, said “if there is a shakeout in retail, I won’t blame it on Amazon. That’s just retail getting efficient. Amazon is just improving the customer experience. The traditional retailer created a lot of friction in the system, and where there is friction, there is Amazon to take out the friction.”

During the fireside interaction, Nooyi said growing up in India, she was surrounded by a tight-knit and multi-generational family and every member of the family stepped into parenting and disciplining the young children.

“That confidence that we all got, growing up, and that incredible sense of responsibility that education was important, listening to the elders was very important and striving to do better and better all the time and being held accountable for that made a profound difference to my life.”

She added that in many ways “I would say that my success today is the result of my childhood, my upbringing and India. All of that has had a profound impact on me.”

India has a huge potential and the real question is the speed of growth and how many roadblocks it is willing to remove, former PepsiCo chairperson Indra Nooyi has said.

India has a huge potential and the real question is the speed of growth and how many roadblocks it is willing to remove, former PepsiCo chairperson Indra Nooyi has said. Advertising Nooyi, in October last year, stepped down as the CEO of the global beverage giant, after 24 years with the company, the last 12 as its CEO. “The country does have huge potential, talent wise, population, everything, the country has huge potential. The real question is the speed of growth and how many roadblocks are we willing to remove,” Nooyi said responding to a question on India and its growth potential during an interaction hosted by the Consulate General of India in the city on Thursday. “India has got to do what is right for India. I am not the person to opine on that. India has got to do what is right for India, just as Europe should do what is right for Europe,” she said. Nooyi was the guest speaker at the ‘New India Lecture’ series, organised by the Consulate under the aegis of Consul General Sandeep Chakravorty and in partnership with the US-India Strategic Partnership Forum (USISPF). On the various geopolitical uncertainties around the world and their impact on the global economic and social sphere, she said there have been many times in the past where there has been geopolitical uncertainty. “It’s been in different forms but it’s always been there. Big companies just learn to power through.” Nooyi said she has always said that “when you go into any country, you have got to act as though you are the citizen of that country. You can’t go in there and say everything is going to be done my way. Except for the ethics and governance aspect, everything else is local. “As long as you go into a country and develop a local model and execute it locally, you live within the rules of that country. Don’t compromise your corporate governance principles. “You have got to be aware of politics, be sensitive to all the minefields, but don’t play in them, don’t take a voice in them because that is a losing proposition,” she said, adding that if companies have knowledge of what’s going on but they just focus on doing their business, they will be successful. Nooyi, answering a question on where does she see a balance between online retail and brick and mortar, said “if there is a shakeout in retail, I won’t blame it on Amazon. That’s just retail getting efficient. Amazon is just improving the customer experience. The traditional retailer created a lot of friction in the system, and where there is friction, there is Amazon to take out the friction.” During the fireside interaction, Nooyi said growing up in India, she was surrounded by a tight-knit and multi-generational family and every member of the family stepped into parenting and disciplining the young children. “That confidence that we all got, growing up, and that incredible sense of responsibility that education was important, listening to the elders was very important and striving to do better and better all the time and being held accountable for that made a profound difference to my life.” She added that in many ways “I would say that my success today is the result of my childhood, my upbringing and India. All of that has had a profound impact on me.”

'India does have huge potential, real question is speed of growth,’ says former PepsiCo chairperson Indra Nooyi

PepsiCo&#39;s India-born CEO Indra Nooyi has said Hillary Clinton&#39;s defeat in the elections has left her daughters, gay workers and&nbsp;employees&nbsp;devasted, as there was &quot;serious concern&quot; among them about their safety in the US with Donald Trump as president.

&quot;Do you have a box of tissues here,&quot; Nooyi, a staunch Clinton supporter, said at the New York Times Dealbook Conference&nbsp;when asked how she felt on the morning of November 9, when Trump won the presidential election.

A visibly dejected Nooyi said Clinton&#39;s loss left her daughters and PepsiCo&#39;s employees devastated, and there were serious concerns among the company&#39;s workers, especially the non-white employees, about their safety in an America with Trump as its president.

&quot;I had to answer a lot of questions from my daughters, from our employees. They were all in mourning. Our employees were all crying. The question that they are asking, especially those who are not white, &#39;Are we safe?&#39;.&nbsp;Women are asking &#39;Are we safe?&#39;.&nbsp;LGBT people are asking &#39;Are we safe?&#39;&quot;&nbsp;she said at the conference on November 10.

Nooyi said she had never thought she would have to answer such questions, stressing that people across America should be assured that they will continue to be safe in the country.

&quot;The first thing that we all have to do is to assure everybody in the US that they are safe, nothing has changed because of this election. What we heard was election talk and that we will all come together and unify the country,&quot; she said.

Congratulating President-elect Donald Trump, Nooyi said those who supported Clinton are mourning but life has to go on.

&quot;The process of democracy happened, we just have to let life go on. We have to come together and life has to go on,&quot; she said.

Nooyi voiced concern that real issues facing the country were not talked about in the election campaign and serious discussions cannot happen in &quot;bursts of sound bites&quot; or 140 characters on social media.

&quot;...A lot of what should have been said during the elections, I don&#39;t think was said because I think we let the politics trump the issues. Pardon the pun, but I think that is what happened.

&quot;The real issues that face us as a country were never talked about, the reason being that if the real issues were put on the table we would have had to engage on a serious discussion. I don&#39;t think we are ready for serious discussions because the real issues don&#39;t lend themselves to 140 characters, the real issues don&#39;t lend themselves to sound bites on TV,&quot; she said.

Nooyi emphasised that at some point the nation will have to &quot;pick up the big issues of technological unemployment, global trade, immigration - all of which needs reform and have serious conversation about that. Who is going to call for that dialogue, who will participate in that dialogue and what are we going to do about the dialogue are all big questions. I don&#39;t know how we can have it in short bursts of sound bites. It would be counterproductive to do it in sound bites,&quot; she said.

(PTI)

Indra Nooyi said Clinton's loss left her daughters, gay workers and employees devasted and concerned about their safety

PepsiCo's India-born CEO Indra Nooyi has said Hillary Clinton's defeat in the elections has left her daughters, gay workers and employees devasted, as there was "serious concern" among them about their safety in the US with Donald Trump as president. "Do you have a box of tissues here," Nooyi, a staunch Clinton supporter, said at the New York Times Dealbook Conference when asked how she felt on the morning of November 9, when Trump won the presidential election. A visibly dejected Nooyi said Clinton's loss left her daughters and PepsiCo's employees devastated, and there were serious concerns among the company's workers, especially the non-white employees, about their safety in an America with Trump as its president. "I had to answer a lot of questions from my daughters, from our employees. They were all in mourning. Our employees were all crying. The question that they are asking, especially those who are not white, 'Are we safe?'. Women are asking 'Are we safe?'. LGBT people are asking 'Are we safe?'" she said at the conference on November 10. Nooyi said she had never thought she would have to answer such questions, stressing that people across America should be assured that they will continue to be safe in the country. "The first thing that we all have to do is to assure everybody in the US that they are safe, nothing has changed because of this election. What we heard was election talk and that we will all come together and unify the country," she said. Congratulating President-elect Donald Trump, Nooyi said those who supported Clinton are mourning but life has to go on. "The process of democracy happened, we just have to let life go on. We have to come together and life has to go on," she said. Nooyi voiced concern that real issues facing the country were not talked about in the election campaign and serious discussions cannot happen in "bursts of sound bites" or 140 characters on social media. "...A lot of what should have been said during the elections, I don't think was said because I think we let the politics trump the issues. Pardon the pun, but I think that is what happened. "The real issues that face us as a country were never talked about, the reason being that if the real issues were put on the table we would have had to engage on a serious discussion. I don't think we are ready for serious discussions because the real issues don't lend themselves to 140 characters, the real issues don't lend themselves to sound bites on TV," she said. Nooyi emphasised that at some point the nation will have to "pick up the big issues of technological unemployment, global trade, immigration - all of which needs reform and have serious conversation about that. Who is going to call for that dialogue, who will participate in that dialogue and what are we going to do about the dialogue are all big questions. I don't know how we can have it in short bursts of sound bites. It would be counterproductive to do it in sound bites," she said. (PTI)

Employees are scared for their safety after Trump's win: PepsiCo CEO

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Chinese snack brand Be & Cheery sold to Pepsico for $705 million

'India does have huge potential, real question is speed of growth,’ says former PepsiCo chairperson Indra Nooyi

Employees are scared for their safety after Trump's win: PepsiCo CEO