US food and beverage giant PepsiCo has taken a stake in leading Ethiopian crisps manufacturer Senselet Food Processing, just-food reports.
The multinational was partnering with Senselet's founder, Veris Investments, to become a "major shareholder", with an undisclosed stake, just-food said on 7 January.
Veris said it would continue to maintain a minority interest in Senselet and "partner with PepsiCo to further grow the business and develop potato sourcing programmes in Ethiopia".
The Dutch founder said it set up Senselet in 2015 with the aim of building a business that would contribute to the development of the potato value chain in Ethiopia.
With a "a leading market position", Senselet’s Sun Chips brand was produced from locally-sourced potatoes and distributed in Addis Ababa and other large Ethiopian cities, just-food wrote.
Veris Investments managing director Juliette de Wijkerslooth said: "PepsiCo shares our commitment to work with small- and medium-scale Ethiopian farmers as well as developing the potato value chain and sustainable farming in Ethiopia.
"Having PepsiCo as a partner will enable Senselet to leverage their extensive global expertise on potato cultivation, manufacturing and go-to-market capabilities."
PepsiCo’s global brands include Frito-Lay and Walkers crisps.