Iconic Aussie snack could be sold
Global drinks giant PepsiCo is rumoured to be flirting with the idea of selling off its Australian snack business that includes brands such as Smith's Chips and Nobby's nuts.
The Australian's Data Room has reported the major drinks producer is looking to place its local snacks assets on the market for a potential new buyer.
It has been reported PepsiCo has been scoping out consultants to look at the potential demerger of its Australian food operations.
Pepsi has not publicly confirmed if it is intending to sell off The Smith's Snackfood Company.
Asides from Smith Chips, the company also owns Red Rock Deli, Twisties, Cheetos, Burger Rings, Doritos and Sakata crackers.
Speculation has arisen following reports Pepsi is looking to retain only its global brands within its portfolio, which predominantly skew towards its drink business.
Pepsi's potential break-up follows the sale of a number of high profile Australian brands in recent years by major food and beverage conglomerates.
In 2019, Campbell Soup Company sold Arnott's biscuits to Kohlberg Kravis Roberts for $3.2bn.
Nestle has also spun out Violet Crumble and Life Savers, while confectionary giant Mondelez recently sold off Vegemite to Bega Cheese.
The estimated worth of a potential sales of Smith's is unknown.
PepsiCo in the last year has also acquired SodaStream International.
Originally published as Iconic Aussie snack could be sold