March 8, 2017 / 1:37 PM / a year ago

PepsiCo bidding for Brazilian dairy company Vigor -newspapers

SAO PAULO, March 8 (Reuters) - PepsiCo Inc has bid to acquire Brazilian dairy company Fábrica de Produtos Alimentícios Vigor SA, according to reports published in two Brazilian newspapers on Wednesday.

Valor Econômico reported, citing unnamed industry sources, that PepsiCo had made two bids, the second of which was around 6 billion reais ($1.9 billion), but said the current owner, J&F Investimentos Ltda, had not agreed on the value of a deal.

J&F, which also owns meatpacker JBS SA and wood pulp producer Eldorado Brasil Celulose SA, has sought competing bids from other companies such as French Group Lactalis, the controlling owner of Parmalat, according to Valor.

Newspaper O Estado de S. Paulo reported that Mexico’s Grupo Lala SAB had also eyed the possible acquisition.

Representatives for PepsiCo, J&F, Lactalis and Lala did not immediately respond to requests for comment.

$1 = 3.14 reais Reporting by Ana Mano; Editing by Brad Haynes and Frances Kerry

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