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PepsiCo completes acquisition of Siete Foods
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Friday, 31 January, 2025, 14 : 00 PM [IST]
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New York, USA
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PepsiCo, Inc., announced that it has closed the acquisition of Garza Food Ventures LLC, dba Siete Foods, for $1.2 billion.
Over the past two decades, the company has transformed its portfolio to include great-tasting convenient foods and drinks that are nutritious, enjoyable, and fit consumers' lifestyles. The company continues to expand positive choices for consumers by reducing salt, sugar, and saturated fat from loved brands without compromising taste and transforming its portfolio through continuous innovation and strategic acquisition to include more positive nutrition.
The growing brand is the latest in a line of the company’s acquisitions that include PopCorners, Bare, Stacy's Pita Chips, and most recently, Sabra. With the brand, the company will further expand its portfolio of products with nutritious, simple foods and ingredients and bring this popular, growing brand to new fans in even more places.
Steven Williams, CEO of PepsiCo North America, said, "We're committed to transforming our portfolio to include more positive choices that meet consumer demand for convenient and delicious products. We love the Siete brand for the same reason so many loyal consumers do and are dedicated to preserving its special attributes while making the brand more widely available and accessible on a broader scale."
Miguel Garza, CEO and co-founder of Siete Foods, said, “Today marks a defining moment in Siete's journey and an exciting chapter of growth and expansion for our brand. When our family founded Siete 10 years ago, it was with a heartfelt mission: to share the beauty of our Mexican-American heritage and Latino culture with the world, creating foods that everyone can enjoy, love, and feel connected to. The overwhelming support and passion we've seen – from the love for our products to the celebration of this milestone for Latino entrepreneurship – have profoundly inspired us. As we join PepsiCo, my family and I are committed to honoring, amplifying, and continuing to build the Siete brand and welcoming even more people to join us at the table."
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