Vending
PepsiCo acquires Siete Foods for $1.2B
October 2, 2024
PepsiCo has acquired Mexican American food company Siete Foods for $1.2 billion, according to a CNBC report. This marks the company's first major food acquisition in nearly five years.
Siete Foods, founded in 2014 by Veronica Garza, offers a range of grain-free products including tortilla chips, taco shells, salsas and seasonings. The company's products are available at major retailers such as Target, Kroger, Whole Foods and CVS, as well as in vending operations across the country.
"We look forward to expanding our multicultural portfolio with these incredible products and even more consumers discovering and enjoying Siete," Pepsi CEO Ramon Laguarta told the news outlet.
The deal is expected to close in the first half of 2025, subject to regulatory approval. This acquisition aligns with PepsiCo's strategy to shift its portfolio toward healthier options, following similar moves with Bare Snacks, Health Warrior and PopCorners.
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