Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
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

Boeing CEO says China has stopped taking its...

April 24, 2025

Amazon to shut down speedy brick-and-mortar delivery service

October 24, 2024

Amazon sued by D.C. AG for allegedly excluding...

December 5, 2024

Comcast and Harris Blitzer to build NBA, NHL...

January 14, 2025

Starbucks is reeling as customers go elsewhere, sales...

August 1, 2024

Costco and Teamsters reach tentative contract agreement, avoid...

February 3, 2025

Microsoft confirms performance-based job cuts across departments

January 11, 2025

Walmart-owned Sam’s Club tests a future without checkout...

October 9, 2024

Nvidia’s CEO did a Q&A with analysts. What...

March 22, 2025

Boeing’s new outsider CEO Ortberg takes the helm,...

August 9, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


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

    Recent

    • Strategic Chaos or Tactical Goldmine? What QQQ’s Chart is Whispering Right Now

      June 5, 2025
    • Why ADX Can Mislead You — And How to Avoid It

      June 5, 2025
    • S&P 500 on the Verge of 6,000: What’s at Stake?

      June 5, 2025
    • Speaker Johnson surprised by Musk’s criticism of ‘big, beautiful bill’: He’s ‘flat wrong’

      June 5, 2025
    • There’s a way to aid Gaza. I know, my foundation just helped deliver 7 million meals… without incident

      June 5, 2025

    Categories

    • Business (967)
    • Investing (2,320)
    • Politics (2,873)
    • Stocks (1,054)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.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 © 2025 sportinvestorsleague.com | All Rights Reserved