PepsiCo Inc. on May 25 announced an agreement to acquire Bare Foods Co. (doing business as Bare Snacks), a U.S.-based maker of baked fruit and vegetable snacks. Neither the price of the purchase nor the sales level of the acquired company was disclosed. Nor whom the seller was.
Bare Snacks was founded in 2001 by a family-owned organic apple farm in Washington that began selling packaged baked apple chips in local farmers' markets. Under its current leadership team, it has expanded steadily to become the leader in apple, banana and coconut snacks.
It recently expanded into vegetable chips and offers a broad assortment of baked crunchy fruit and vegetable chips. All the company's products are Non GMO Project verified, feature clean labels and are sold online and in natural and conventional retail channels across the U.S.
PepsiCo Chairman and CEO Indra Nooyi said the acquisition fits squarely within company goals to expand its snacking portfolio and to offer more nutritious products, "while also reducing added sugars, salt and saturated fat."
Upon closing, Bare Snacks will continue to operate independently from its headquarters in San Francisco with its leadership reporting into PepsiCo's Frito-Lay North America division.