PepsiCo has announced plans to acquire Siete Foods, a Mexican-American food company, for $1.2 billion. This marks PepsiCo’s first food-related acquisition in nearly five years as it continues expanding its portfolio to include healthier options. Siete Foods, founded by Veronica Garza in 2014, started with grain-free tortillas and has since grown to offer a variety of products such as tortilla chips, taco shells, salsas, and seasonings, many of which cater to specific dietary restrictions.
Siete’s products are available in major retailers like Target, Kroger, Whole Foods, and CVS, and PepsiCo’s CEO Ramon Laguarta expressed excitement about adding the brand to the company’s growing multicultural lineup. “We look forward to expanding our multicultural portfolio with these incredible products and even more consumers discovering and enjoying Siete,” Laguarta said.
The deal, expected to close in the first half of 2025 pending regulatory approval, comes at a time when major food companies are looking to acquisitions to drive growth amid changing consumer buying habits. This trend has led to notable deals this year, such as Mars’ $36 billion acquisition of Kellanova, the parent company of Pringles, and Campbell Soup’s $2.7 billion purchase of Sovos Brands, makers of Rao’s pasta sauce.
About PepsiCo :
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $91 billion in net revenue in 2023, driven by a complementary beverage and convenient foods portfolio that includes Lay’s, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker and SodaStream. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.
PepsiCo is a global powerhouse in the food and beverage industry, with its products being enjoyed by consumers more than one billion times a day across over 200 countries and territories. As one of the world’s leading companies in this space, PepsiCo has built a vast and diverse portfolio that caters to a wide range of consumer preferences and needs. In 2023, the company generated over $91 billion in net revenue, reflecting the strength of its complementary lineup of beverages and convenient foods.
The company’s extensive portfolio includes some of the most well-known and beloved brands in the world. From snack foods like Lay’s, Doritos, and Cheetos to popular beverages such as Gatorade, Pepsi-Cola, and Mountain Dew, PepsiCo has established a commanding presence in households, stores, and restaurants worldwide. Additionally, the company owns Quaker, a leading name in the breakfast and nutrition space, as well as SodaStream, which provides at-home carbonated drink solutions for health-conscious and eco-friendly consumers.
What truly sets PepsiCo apart is the significant success of its iconic brands. Several of these, including Lay’s, Pepsi-Cola, and Gatorade, generate more than $1 billion in estimated annual retail sales, demonstrating the brand’s consistent consumer appeal and market dominance. PepsiCo’s ability to adapt to evolving consumer preferences, such as shifting toward healthier options and expanding its multicultural portfolio, has helped the company maintain its competitive edge.
PepsiCo’s reach goes far beyond just offering popular snacks and beverages. Through a mix of innovation, strategic acquisitions, and a commitment to sustainability, the company continues to grow and shape the future of the global food and beverage industry. As a leader in its field, PepsiCo strives to meet the needs of consumers around the world while staying attuned to the importance of health, wellness, and environmental responsibility.
About Siete Foods :
Siete Family Foods was born when my family helped me overcome a series of major health challenges. As a teenager, I was diagnosed with multiple debilitating autoimmune conditions that almost wrecked my life.
But with my family’s love and support, I was able to get better. Together, our family of seven (Siete!) started exercising in my parents’ backyard, and we even opened up our own CrossFit gym.
We began learning about the ways that food can heal us. At my brother’s urging, I decided to adopt a low-inflammation, elimination diet, and my whole family chose to join me for the journey.
As a Mexican-American family from South Texas, the tacos and fajitas that we used to enjoy on tortillas just didn’t taste the same on a lettuce leaf. So I began making grain free tortillas for my family, and they loved them. I knew we had something really special when my Grandma Campos told me that my tortillas tasted better than the homemade flour tortillas she’d made for decades!
My family knew that we couldn’t keep our delicious Mexican-American food to ourselves, so we’re delighted to share it with you in a variety of dietary offerings, from our table to yours.
Siete Family Foods is a mission-based company, and we’re passionate about making and sharing real food, gathering together in authentic community, and advocating for healthier lifestyles among Latino families.
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