|
|
|
You can get e-magazine links on WhatsApp. Click here
|
|
|
|
|
|
PepsiCo to acquire Siete Foods for $1.2 bn
|
|
Wednesday, 09 October, 2024, 08 : 00 AM [IST]
|
|
New York and Texas, USA
|
PepsiCo, Inc., announced that it has entered into a definitive agreement to acquire Garza Food Ventures LLC, dba Siete Foods for $1.2 billion.
The acquisition will complement its portfolio with the addition of an authentic, Mexican-American brand, while also growing its better-for-you food offerings. The brand’s products will bring a rich, new aspect to the company’s multicultural portfolio with delicious food that plays an important role in meal occasions and culinary experiences.
Founded in 2014, it produces authentic heritage-inspired tortillas, salsas, seasonings, sauces, cookies, snacks and more. Its products can be found in grocery stores, club stores, and organic food retailers primarily across USA.
Ramon Laguarta, chairman and CEO, PepsiCo., said, "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. PepsiCo believes in the spirit and authenticity of the Siete brand, and we're excited to carry on the legacy created by the Garza family. We look forward to expanding our multicultural portfolio with these incredible products and even more consumers discovering and enjoying Siete."
Miguel Garza, CEO and co-founder, Siete Foods, said, “Siete was created ten years ago to make heritage-inspired, Mexican-American food more widely available. Now we're excited to embrace a new era with PepsiCo and bring our inclusive, better-for-you products to more people. We hope this next chapter for Siete serves as inspiration for other Latino businesses, showing that it's possible to build a thriving brand that honours our heritage and celebrates our culture."
|
|
|
|
|
|
|
|
|
|