"PepsiCo Makes a Crunchy Move: $1.2 Billion Deal for Siete Foods!"

Big news in the snack world! PepsiCo has announced it’s acquiring Siete Foods, a popular Mexican American brand, for a whopping $1.2 billion. This marks Pepsi’s first food purchase in about five years as it aims to boost its lineup of healthier options.

Founded in 2014 by Veronica Garza, Siete Foods started by selling grain-free tortillas and has since expanded to offer tortilla chips, taco shells, salsas, and seasonings, catering to various dietary needs. You can find their products at major retailers like Target, Kroger, Whole Foods, and CVS.

Pepsi CEO Ramon Laguarta expressed excitement about the deal, stating, “We look forward to expanding our multicultural portfolio and helping more consumers discover Siete’s fantastic products.”

The acquisition is set to close in the first half of 2025, pending regulatory approval. This move comes as food companies ramp up acquisitions to boost sales in a challenging market. Earlier this year, Mars announced its purchase of Pringles’ parent company, Kellanova, for nearly $36 billion, and Campbell Soup completed its $2.7 billion acquisition of Rao’s pasta sauce maker, Sovos Brand.