share_log

PepsiCo Has Entered Into A Definitive Agreement To Acquire Garza Food Ventures, Dba 'Siete Foods' For $1.2B

Benzinga ·  Oct 1 21:27

PepsiCo, Inc. (NASDAQ:PEP) ("PepsiCo") today announced that it has entered into a definitive agreement to acquire Garza Food Ventures LLC, dba Siete Foods ("Siete") for $1.2 billion.

The acquisition will complement PepsiCo's portfolio with the addition of an authentic, Mexican-American brand, while also growing its better-for-you food offerings. Siete products will bring a rich, new aspect to the PepsiCo multicultural portfolio with delicious food that plays an important role in meal occasions and culinary experiences.

Founded in 2014, Siete produces authentic heritage-inspired tortillas, salsas, seasonings, sauces, cookies, snacks and more. Siete's products can be found in grocery stores, club stores, and organic food retailers primarily across the U.S.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment