PepsiCo To Acquire Siete Foods For $1.2 Bln - Quick Facts
PepsiCo has agreed to acquire Siete Foods for $1.2 billion. Siete Foods, known for its heritage-inspired tortillas, salsas, and snacks, will enhance PepsiCo's portfolio with a focus on better-for-you food options. CEO Ramon Laguarta praised the Garza family's passion for food, which aligns with PepsiCo's values. The acquisition aims to strengthen PepsiCo's presence in the U.S. market, where Siete's products are widely available.
PepsiCo (PEP) has entered into a definitive agreement to acquire Garza Food Ventures LLC, dba Siete Foods for $1.2 billion. Siete produces authentic heritage-inspired tortillas, salsas, seasonings, sauces, cookies, snacks and more. PepsiCo said the acquisition will complement its portfolio with the addition of an authentic, Mexican-American brand, while also growing its better-for-you food offerings. Additional terms were not disclosed.
"The Garza family has built a very special brand. Their passion for making and sharing food shines through in every Siete product, and that's a passion we share at PepsiCo," said Ramon Laguarta, CEO of PepsiCo.
Siete's products can be found in grocery stores, club stores, and organic food retailers primarily across the U.S.
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