Reports in Brazilian media claim that PepsiCo is to acquire dairy company Fábrica de Produtos Alimentícios Vigor SA. According to anonymous sources who spoke with South American newspaper Valor Econômico, PepsiCo is making a move to buy the Brazilian company and has made a bid of approximately US$1.9 billion.

However, according to the reports, the current owners J&F Investimentos Ltda, have not agreed on the value of a deal and there is no official confirmation of the acquisition at this stage.

Vigor is a the sixth largest dairy and food company in Brazil and is headquartered in São Paulo. It’s a subsidiary of JBS, the leading food processing company. Vigor specializes in UHT milk, yogurts, cheese, butter, ice cream and other products such as juices, pasta, sauce, vegetable fats and oils, selling under the brands of Vigor, Leco, Danubio, Faixa Azul, Serrabella, Amélia, Franciscano, Carmelita e Mesa.

Pepsico had not responded to a request for comment from FoodIngredientsFirst at the time of writing.