The Investment Whisperer
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Investment Whisperer

Business

PepsiCo to buy tortilla chip maker Siete Foods for $1.2 billion

by admin October 3, 2024
October 3, 2024
PepsiCo to buy tortilla chip maker Siete Foods for $1.2 billion

PepsiCo said Tuesday that it’s buying Mexican-American food company Siete Foods for $1.2 billion, marking the company’s first food acquisition in roughly five years.

Like many food companies, Pepsi has been trying to shift its portfolio to include healthier options in recent years, usually through acquisitions. Recent additions include Bare Snacks, Health Warrior and PopCorners.

Soon that will also include Siete. Founder Veronica Garza started the company in 2014, when she began selling grain-free tortillas. Since then, its portfolio has grown to include tortilla chips, taco shells, salsas and seasonings, often designed to accommodate different dietary restrictions. Retailers like Target, Kroger, Whole Foods and CVS carry the company’s products.

“We look forward to expanding our multicultural portfolio with these incredible products and even more consumers discovering and enjoying Siete,” Pepsi CEO Ramon Laguarta said in a statement.

The deal is expected to close in the first half of 2025, assuming it receives regulatory approval.

Deal-making has picked up this year for packaged food companies, who are turning to acquisitions to drive sales growth as shoppers buy less of their products. In August, M&M’s owner Mars announced it would buy Pringles parent Kellanova in a deal valued at nearly $36 billion. This March, Campbell Soup completed its $2.7 billion acquisition of Rao’s pasta sauce maker Sovos Brand.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
East and Gulf coast ports shut down as thousands of workers go on strike
next post
In Search of Alternative Financing for Critical Minerals Projects

Related Posts

Hasbro forecasts as much as $300 million impact...

April 26, 2025

White House aims to make it easier for...

August 13, 2024

More than 15 million Toshiba laptop adapters recalled...

February 22, 2024

Supreme Court Justice Samuel Alito sold Bud Light...

May 23, 2024

Boeing would avoid guilty plea, prosecution over 737...

May 17, 2025

Over 3 million on Social Security may wait...

January 30, 2025

Capital One to acquire Discover Financial Services in...

February 21, 2024

Caitlin Clark’s pro salary exposes an undeniable economic...

April 23, 2024

Chinese tea chain Chagee files for U.S. initial...

March 28, 2025

Apple’s Maryland store workers vote to authorize strike

May 14, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (1,402)
    • Investing (3,381)
    • Politics (4,562)
    • World (4,498)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheInvestmentWhisperer.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TheInvestmentWhisperer.com | All Rights Reserved