Exclusive Announcement: PepsiCo Acquires Siete Foods for $1.2 Billion
At Extreme Investor Network, we are excited to bring you breaking news in the business world. PepsiCo has just announced its acquisition of Mexican American food company Siete Foods for a staggering $1.2 billion. This move marks PepsiCo’s first food acquisition in nearly five years and underscores the company’s commitment to expanding its portfolio with healthier options.
Siete Foods, founded by Veronica Garza in 2014, has gained popularity for its innovative and delicious grain-free tortillas. Since then, the company has expanded its product line to include tortilla chips, taco shells, salsas, and seasonings, all catering to different dietary restrictions. Major retailers like Target, Kroger, Whole Foods, and CVS currently carry Siete Foods products, showcasing the brand’s widespread appeal.
PepsiCo’s CEO, Ramon Laguarta, expressed his enthusiasm for the acquisition, stating, "We look forward to expanding our multicultural portfolio with these incredible products and reaching even more consumers who will enjoy Siete Foods." The deal is expected to be finalized in the first half of 2025 pending regulatory approval.
This acquisition comes at a time when packaged food companies are increasingly turning to acquisitions to drive sales growth. Mars, the owner of M&M’s, recently announced its acquisition of Pringles parent company Kellanova for nearly $36 billion. Additionally, Campbell Soup completed a $2.7 billion acquisition of Sovos Brand, the maker of Rao’s pasta sauce, earlier this year.
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