PepsiCo is acquiring Siete Foods for $1.2 billion

By: Trademagazin editor Date: 2024. 10. 04. 09:08

PepsiCo, Inc. is acquiring Siete Foods, also known as Garza Food Ventures LLC, Austin, Texas, for $1.2 billion. Siete Foods is a manufacturer of “heritage-inspired” tortillas, salsas, seasonings, sauces, cookies and snacks.

The acquisition will complement PepsiCo’s portfolio with the addition of the Mexican American brand while also growing its better-for-you offerings, according to the company. Some of the products manufactured by Siete Foods are gluten-free or without grains, dairy or soy.

“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,” said Ramon Laguarta, chairman and chief executive officer of PepsiCo, Inc. “We look forward to expanding our multicultural portfolio with these incredible products and even more consumers discovering and enjoying Siete.”

Siete Foods was founded in 2014 with the goal of creating grain-free staple products such as tacos and fajitas.

“Siete was created 10 years ago to make heritage-inspired, Mexican American food more widely available,” said Miguel Garza, CEO and co-founder. “Now we’re excited to embrace a new era with PepsiCo and bring our inclusive, better-for-you products to more people.”

The acquisition is expected to close during the first half of 2025.

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