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PepsiCo announced on Tuesday that it has acquired Mexican American food company Siete Foods for $1.2 billion, marking its first food acquisition in five years. The move is part of PepsiCo’s strategy to include healthier options in its portfolio through acquisitions, with recent additions like Bare Snacks, Health Warrior, and PopCorners. Siete Foods, founded by Veronica Garza in 2014, offers a range of products including grain-free tortillas, tortilla chips, taco shells, salsas, and seasonings tailored to different dietary restrictions. The deal is expected to close in the first half of 2025, pending regulatory approval.
Packaged food companies have been active in deal-making this year to drive sales growth amid changing consumer preferences. In August, Mars announced its acquisition of Pringles parent company Kellanova in a $36 billion deal. Campbell Soup also completed its $2.7 billion acquisition of Rao’s pasta sauce maker Sovos Brand earlier this year.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.
