PepsiCo to Acquire Better-for-You Brand Siete Foods

PepsiCo Inc. has entered into an agreement to acquire Siete Foods, a family-owned, authentic Mexican-American brand known for its gluten-free, better-for-you products, for $1.2 billion. The acquisition marks a significant expansion of PepsiCo’s multicultural and healthier food portfolio, bringing more inclusive and nutritious options to a wider audience.

Key Details of the Acquisition

• Siete Foods was founded by the Garza family in Austin, Texas, and is named after the seven family members.

• The brand was initially inspired by Veronica Garza’s experience with lupus, leading her to create grain-free tortillas that gained popularity among family and friends.
• Siete’s product lineup includes a range of salsas, sauces, tortilla chips, snacks, cookies, and more, with a focus on gluten-free and Non-GMO offerings.
• Their tortilla chip was awarded the Tortilla Product of the Year in 2020 by the Mindful Awards.

Strategic Value to PepsiCo

• The acquisition of Siete Foods will enhance PepsiCo’s multicultural portfolio, providing more options for consumers seeking healthier and culturally rich foods.
• Siete’s products align with growing consumer interest in better-for-you snacks and are well positioned in the gluten-free and non-GMO markets.
• Ramon Laguarta, PepsiCo’s Chairman and CEO, emphasized the shared passion for food and the desire to continue the legacy of the Garza family’s brand.

The Future of Siete Foods

• Miguel Garza, CEO and co-founder of Siete, shared excitement about this new chapter with PepsiCo, aiming to expand Siete’s reach and inspire other Latino-owned businesses.
• The acquisition is expected to close in the first half of 2025, pending regulatory approval.

Conclusion

PepsiCo’s acquisition of Siete Foods highlights the company’s commitment to diversifying its offerings in the better-for-you food sector, particularly within the multicultural food category. Siete’s products will continue to offer consumers authentic, heritage-inspired foods while benefiting from PepsiCo’s expansive distribution and resources.