PepsiCo Pays 1.2 Billion To Acquire Heritage Snack Brand Siete Foods
In a move that’s sure to shake up the future of the snack industry, PepsiCo has announced that it has acquired Siete Foods (known as Siete) for $1.2 billion. Located in retailers across the U.S., Siete was founded in 2014 and produces authentic heritage-inspired tortillas, salsas, seasonings, sauces, and more. It has particularly earned a reputation for using quality ingredients without skimping on flavor. The purchase will bolster the company’s portfolio of Mexican-American-centric brands and its better-for-you-food selection.
“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, Chairman and CEO of PepsiCo in a statement.
Miguel Garza, CEO and Co-Founder of Siete Foods added, “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 honors our heritage and celebrates our culture.”
The transaction must still undergo several steps before being approved and finalized but is expected to close during the first half of 2025.
