PepsiCo has boosted its snack food portfolio in north Africa and the Middle East. A joint venture between Pepsico's Egyptian salty snack operation Tasty and market leader Chipsy will create a new company called Chipsy International. Pepsi will have a controlling stake. In a second transaction, Pepsi has bought Tasali Snack Foods, Saudi Arabia's market leader in salty snacks, which will be merged with Pepsi's joint venture Saudi Snack Foods. Pepsi chief executive Robert Enrico said: "These transactions are important steps in our efforts to build a global snacks business with the scale to operate efficiently and grow the salty snacks category in developing markets." Enrico is due to step down from the Pepsi helm to make way for current Pepsi president Steven Reinemund, assuming the deal to acquire Quaker Oats is cleared by the regulatory authorities. Quaker chief Robert Morrison will become vice chairman of the combined company. {{NEWS }}

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