PepsiCo Acquires Siete Foods for $1.2 Billion

PepsiCo has announced its acquisition of Siete Foods for $1.2 billion, a deal expected to close in the first half of 2025. Founded in 2014 by the Garza family in Austin, Texas, Siete Foods started with almond flour tortillas and has since expanded to over 80 products including tortilla chips, sauces, and cookies. This acquisition aims to enhance PepsiCo's multicultural portfolio and better-for-you food offerings. The Garza family, inspired by Veronica Garza's health challenges, built the brand to honor their heritage and cater to specific dietary needs. PepsiCo CEO Ramon Laguarta praised Siete as a 'very special brand' and expressed excitement about continuing the Garza family's legacy. The deal aligns with a broader trend of packaged food companies strengthening portfolios amid high food prices.