Siete Foods’ $1.2 billion acquisition by PepsiCo sparks consumer backlash

This week, PepsiCo announced its plans to expand its snack offerings by acquiring the Mexican American food brand Siete Foods for $1.2 billion. However, Siete Foods’ $1.2 billion acquisition by PepsiCo sparks consumer backlash.

CEO and co-founder Miguel Garza expressed enthusiasm about the partnership, stating in a press release that the company is “excited to embrace a new era with PepsiCo and bring our inclusive, better-for-you products to more people.” Despite this optimism, many consumers have voiced their apprehensions regarding the acquisition.

Founded in 2014 by the Garza family in Austin, Texas, Siete Foods specializes in products such as grain-free tortillas, tortilla chips, salsa, seasonings, and cookies, and has established a presence in 40,000 retail locations, including Target, Kroger, and Walmart.

PepsiCo Chairman and CEO Ramon Laguarta emphasized the importance of the Siete brand, stating, “PepsiCo believes in the spirit and authenticity of the Siete brand, and we’re excited to carry on the legacy created by the Garza family.” Nevertheless, Siete Foods’ $1.2 billion acquisition by PepsiCo sparks consumer backlash**.**

Since the announcement, social media has been abuzz with discontent. One TikTok video from user @‌glutenfreesarah, who expressed her profound disappointment over the deal, garnered over 400,000 views and 2,200 comments. Many comments drew parallels to other food acquisitions, like Campbell Soup Company’s purchase of Rao’s, which were perceived to have diminished product quality.

Another TikTok video showcased a shopper filling her cart with Siete products at Target, with the caption indicating it was “time to find a new brand.” Additionally, one video featured a Costco shopper “stocking up before the ingredients change,” while another user shared video, “eating my last Siete tortilla before Pepsi ruins it,” which received over 100,000 views.

Siete’s latest Instagram post has attracted more than 1,900 comments, with numerous users echoing similar concerns. The brand has addressed some inquiries, including one asking why they sold to PepsiCo, accompanied by crying face emojis. In response, Siete highlighted their commitment to creating inclusive food and building community, noting that their new partner has the resources to enhance that mission for years to come. In another response regarding ingredient choices, Siete emphasized the care and love put into their products and reassured consumers that PepsiCo “believes in the Siete brand” and will continue its legacy.

PepsiCo and Siete Foods did not respond to Retail Brew’s request for comment, but the acquisition continues to generate significant discussion, with many consumers remaining wary of the potential changes ahead. Siete Foods’ $1.2 billion acquisition by PepsiCo sparks consumer backlash.