PepsiCo announced that it has agreed to acquire Comercio de Doces Lucky Ltda., a Brazilian snack company. Lucky makes and sells a variety of snack products in Brazil, including the popular brands Torcida and Fofura, which together account for the bulk of the company's revenues. Torcida and Forura are well-known and highly regarded brands in Brazil's fast-growing snack market.

"This transaction reflects PepsiCo's long-term commitment to invest in Brazil, and we're delighted to welcome Lucky and its employees into the PepsiCo family," said Michael White, chief executive officer of PepsiCo International and vice chairman of PepsiCo."Overnight this will give us lots of expertise, added manufacturing capacity and a broader selection of snacks to offer Brazilian consumers."

The acquisition includes all of Lucky's snack brands as well as its call centers and two manufacturing plants it operates in or near Sao Paulo. The transaction is subject to approval by CADE, Brazil's competition authority. Terms of the transaction were not disclosed.