PepsiCo Agrees to Acquire Remaining Interest in Sabra, Obela Parent Companies

Nov. 22, 2024

After a decade-plus joint venture PepsiCo will acquire the remaining 50% stake in the refrigerated dips and spreads companies from Strauss Group to become the sole owner of each.

Andy Hanacek

PepsiCo Inc. will be the sole owner of both Sabra Dipping Co. LLC and PepsiCo-Strauss Fresh Dips & Spreads International GmbH (Obela), after it agreed to acquire the remaining 50% interest in those companies, according to a PepsiCo release.

Both Sabra and Obela are 50-50 joint ventures between PepsiCo and Strauss Group, agreed upon in 2008 and 2012, respectively, that produce refrigerated dips and spreads. Sabra has grown to nearly $400 million in retail sales of its hummus products in the U.S. — and it operates in Canada as well — while Obela operates in Australia, New Zealand and Mexico.

PepsiCo believes the deal will allow it to continue to transform the portfolio and drive accelerated innovation to meet North American consumer demand. Steven Williams, CEO, PepsiCo Foods North America, explained in a statement that refrigerated dips and spreads “represent a space we have long desired to expand in the U.S. and Canada.”

The transactions are expected to close by the end of 2024. 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.