The acquisition will add to PepsiCo’s existing snack portfolio which includes brands such as Sunbites, Walkers and Doritos.
The food and beverage company said that the deal will help to accelerate Pipers Crisp's business in the UK and will promote the export of the products.
“Pipers share our uncompromising commitment to delivering on taste and quality and we’ve long-admired their entrepreneurial spirit,” said Ian Ellington, general manager of PepsiCo UK.
“The Pipers brand has a strong proposition within the market, with stand-out taste, flavours and appeal.”
The move aligns with PepsiCo’s strategy to broaden its snacking offer and diversify as consumers move away from sugary soft drinks.
Pipers Crisps is a kettle-cooked gourmet crisp brand that is sold in the Out of Home market, including in pubs, restaurants, cafes, hotels and farm shops both in the UK and abroad.
James McKinney, managing director of Pipers Crisps, said: “We’ve developed innovative products to suit evolving tastes while establishing a strong foothold in the market.
“PepsiCo’s commitment to accelerating the growth of the Pipers brand means more people will be able to enjoy the unique, award-winning flavour of Pipers crisps.”
If approved by the competition market authority, the acquisition is expected to be completed in early 2019.