PepsiCo Completes Acquisition of Siete Foods
PepsiCo Inc. has completed its acquisition of Garza Foods Ventures LLC, dba Siete Foods for $1.2 billion, according to a release from the company. The deal was first agreed upon and announced in October 2024, and it is the latest snack-related deal for the company, building upon prior acquisitions of PopCorners, Bare, Stacy’s Pita Chips and Sabra.
Steven Williams, CEO of PepsiCo North America noted that bringing Siete aboard aligns with the company’s commitment to transform its portfolio “to include more positive choices” for consumers. PepsiCo has been working to reduce salt, sugar and saturated fat from its brands without compromising on taste, the release noted. Further, Williams added in his statement, the deal will help make Siete’s products more widely available and accessible for consumers.
Siete’s portfolio includes grain-free tortillas, enchilada sauces, taco seasonings, botana sauces, Mexican cookies, vegan beans, grain-free puffs, tortilla chips, potato chips, and salsas. Miguel Garza, CEO and co-founder of Siete Foods, called the acquisition a “defining moment” in the company’s decade-long history, and he said he and his family were committed to honoring, amplifying and continuing to build the brand as they join PepsiCo.