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PepsiCo acquires majority stake in Ethiopian snacks-maker Senselet

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PepsiCo acquires majority stake in Ethiopian snacks-maker Senselet

PepsiCo Inc. has acquired a majority stake in Ethiopian snacks producer Senselet Food Processing PLC, according to a Dec. 24 release.

Senselet was founded in 2015 by Dutch food chain-focused investment firm Veris Investments BV and produces the Sun Chips potato snack brand. It has a production facility about 65 kilometers outside Addis Ababa and employs more than 150 people.

According to the release, Veris will retain a minority stake in Senselet and work with PepsiCo to further expand the business and develop potato sourcing programs in Ethiopia.

PepsiCo earlier this month acquired another snacks business, New York-based BFY Brands LLC.

Financial details of the transaction were not disclosed.