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PEPSICO TO ACQUIRE SNACK FOOD COMPANY IN CHILE

 PEPSICO TO ACQUIRE SNACK FOOD COMPANY IN CHILE
 DALLAS, March 19 /PRNewswire/ -- PepsiCo Foods International (PFI),


the international snack food division of PepsiCo, Inc. (NYSE: PEP), today announced an agreement to acquire Evercrisp Snack Productos de Chile S.A., one the leading snack food producers in Chile. Under the terms of the agreement, PFI will pay US$12.6 million in cash to purchase all of the outstanding shares of Evercrisp.
 Commenting on the announcement, PFI President and CEO John S. Pingel, Jr. said: "The acquisition of Evercrisp is central to our strategy of increasing our competitive position in the entire Latin American marketplace. PFI is the leading producer of snacks in Mexico, Brazil and Puerto Rico, and operates a joint venture in Venezuela. Our new relationship with Evercrisp, in a strong, stable economy such as Chile's, further strengthens our overall presence and commitment in Latin America."
 Evercrisp operates a highly advanced manufacturing facility, built in Santiago in 1982, and employs about 300 people. It is a leading participant in the country's snack food market with approximately a 40 percent share. Moreover, the company is particularly strong in the fast growing potato chip and extruded snacks segments. In 1991 Evercrisp sales totaled US$10.3 million, which annualizes to over US$12 million on a current-value peso basis.
 PFI plans to develop Evercrisp's operations, to increase existing brand share with advertising and promotional support, and to introduce products from PFI's global brand portfolio.
 "We view Evercrisp as a significant opportunity," Pingel stated. "The overall market is underdeveloped, with per capita consumption of salty snacks reaching only 50 percent of the levels in Mexico and seven percent of those in the U.S."
 PepsiCo Foods International is the world leader in snack foods. Established in 1974, PFI has 26 businesses in 24 countries and 1991 total retail system sales of over $4 billion.
 Evercrisp is currently majority owned by Empresas CCT, which is 70 percent owned by British American Tobacco and 30 percent by Chilean investors.
 Other PepsiCo entities operating in Chile include Pepsi-Cola Bottling, Pizza Hut, and Kentucky Fried Chicken restaurants.
 -0- 3/19/92
 /C0NTACT: T.A. Fassburg of PFI, 214-956-3678, or Ken Ross of PepsiCo, 914-253-2725 , or Jennifer Walker of Hill & Knowlton, 212-697-5600, for PepsiCo/
 (PEP) CO: PepsiCo Foods International; Evercrisp Snack Productos de Ch ST: Texas IN: FOD SU: TNM


TQ -- NY064 -- 9745 03/19/92 14:00 EST
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Publication:PR Newswire
Date:Mar 19, 1992
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