PEP agrees to acquire Siete Foods for $1.2 billion. This looks to expand the company's better-for-you offerings.
PepsiCo has acquired the Mexican-American food brand Siete Foods, hoping it can penetrate into the growing market of health conscious consumers.
On Tuesday, PepsiCo agreed to acquire grain-free Mexican-American brand Siete Foods for $1.2 billion, adding to its roster of healthier food and snack offerings, according to the Wall Street Journal.
PepsiCo has revealed plans to acquire Siete Foods, a Mexico-USA based food company, for $1.2 billion. This marks PepsiCo's first acquisition in the food industry in nearly five years.
PepsiCo's stock rose Tuesday, bucking the selloff in the broader stock market, after the beverage and snacks giant announced an agreement to buy Mexican-American foods maker Siete Foods for $1.2 billion a week before earnings are released.
PepsiCo (PEP) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
PepsiCo is buying Mexican-American food company Siete Foods for $1.2 billion. Siete's tortilla chips and other products are designed to meet dietary restrictions.
PepsiCo said on Tuesday it would acquire Garza Food Ventures for $1.2 billion.
PepsiCo Inc. (PEP.O) is in advanced discussions to purchase Texas-based tortilla-chip maker Siete Foods for more than $1 billion, according to sources cited by the Wall Street Journal. The Garza family, which owns and operates Siete Foods, has built a popular brand known for its grain-free snacks and tortillas.
PepsiCo is in advanced talks to acquire tortilla-chip maker Siete Foods for more than $1 billion, Wall Street Journal reported on Monday.
PepsiCo is in advanced talks to acquire tortilla-chip maker Siete Foods for more than $1 billion, according to people familiar with the matter. A deal for the closely held business could be announced soon, provided the talks don't fall apart, the people said.
While PEP's North America business remains troubled, its strategies and execution indicate long-term growth potential.