PepsiCo Inc. has entered into a definitive agreement to pay $705 million to Haoxiangni Health Food Co. to acquire online snacks company Hangzhou Haomusi Food Co., known as Be & Cheery, as PepsiCo continues its expansion in China. The Be & Cheery product line includes nuts, dried fruits, meat snacks, baked goods, and confectionery items sold primarily online through Chinese e-commerce platforms. The transaction is subject to a Haoxiangni shareholder vote, regulatory approvals, and other customary conditions.
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