PepsiCo has entered into a definitive agreement to acquire Garza Food Ventures, the company behind the Siete Foods brand, for $1.2 billion. This strategic move expands Pepsi’s placement in aisles across grocery stores.
“The Garza family has built a very special brand. Their passion for making and sharing food shines through in every Siete product, and that's a passion we share at PepsiCo,” said Ramon Laguarta, Chairman and Chief Executive Officer, PepsiCo. “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. We look forward to expanding our multicultural portfolio with these incredible products and even more consumers discovering and enjoying Siete.”
The addition of an authentic Mexican-American brand will not only complement PepsiCo's portfolio, but will also grow its better-for-you food offerings. Founded in 2014, Siete produces authentic heritage-inspired tortillas, salsas, seasonings, sauces, cookies, snacks, and more.
“Siete was created ten years ago to make heritage-inspired, Mexican-American food more widely available. Now we're excited to embrace a new era with PepsiCo and bring our inclusive, better-for-you products to more people,” said Miguel Garza, Chief Executive Officer and Co-Founder, Siete Foods. “We hope this next chapter for Siete serves as inspiration for other Latino businesses, showing that it's possible to build a thriving brand that honors our heritage and celebrates our culture.”
Siete's products can be found in grocery stores, club stores, and organic food retailers primarily across the United States.
As a press release stated, the transaction is subject to customary closing conditions, including regulatory approval, and is expected to close in the first half of 2025. Additional terms of the acquisition were not disclosed.
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