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PepsiCo buys Siete Foods for $1.2 billion, expanding 'healthy' food portfolio

World 02.10.2024
Source: kursiv.media
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PepsiCo, one of the largest producers of beverages and snacks, announced the acquisition of Mexican-American company Siete Foods for $1.2 billion. The deal will be the first purchase in the food segment in the last five years and will strengthen PepsiCo's position in the market of "healthy" snacks. Among the investors of Siete Foods is the actress Eva Longoria, known for the series "Desperate Housewives".
PepsiCo buys Siete Foods for $1.2 billion, expanding 'healthy' food portfolio

Siete Foods, founded in 2014, produces healthy-focused flatbreads, chips, sauces and sweets. The brand’s products are popular in the United States, and after the deal is completed, scheduled for the first half of 2025, PepsiCo expects to significantly expand its presence in the healthy food segment.

Experts note that the deal is taking place against the backdrop of increased acquisitions in the food industry. Companies are looking to stimulate sales in the context of declining consumer spending. Earlier this year, Mars announced the purchase of Kellanova (the Pringles brand) for $36 billion, and Campbell Soup completed the acquisition of the Rao’s sauce brand for $2.7 billion.

PepsiCo shares rose 0.8% on October 1 following the news of the deal, while the American stock market showed a decline.


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