PepsiCo Enters Agreement to Purchase Siete Foods for $1.2 Billion
PepsiCo Inc. has entered into a definitive agreement to purchase Garza Food Ventures LLC, dba Siete Foods, for $1.2 billion, according to a release from PepsiCo. Siete makes authentic, Mexican heritage-inspired tortillas, salsas, seasonings, sauces, cookies, snacks and more, sold in retail and club store channels across the U.S.
PepsiCo believes Siete’s product line will play an important role in meal occasions and culinary experiences as part of its multicultural portfolio. Siete was founded in 2014 in Austin, Texas, by the seven (siete) members of the Garza family. Miguel Garza, CEO and co-founder, said the family hopes this new era for the business “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.”
PepsiCo chairman and CEO Ramon Laguarta said the company expects the Siete acquisition to help it expand its multicultural portfolio. The transaction is subject to closing conditions and regulatory approval, and is expected to close in the first half of 2025. Additional terms were not disclosed.
About the Author
Andy Hanacek
Senior Editor
Andy Hanacek has covered meat, poultry, bakery and snack foods as a B2B editor for nearly 20 years, and has toured hundreds of processing plants and food companies, sharing stories of innovation and technological advancement throughout the food supply chain. In 2018, he won a Folio:Eddie Award for his unique "From the Editor's Desk" video blogs, and he has brought home additional awards from Folio and ASBPE over the years. In addition, Hanacek led the Meat Industry Hall of Fame for several years and was vice president of communications for We R Food Safety, a food safety software and consulting company.