Already holding a 50% interest in the companies behind Sabra and Obela dips, PepsiCo will acquire the remaining 50% interest in each company to accelerate its refrigerated fresh dips and spreads business.
The acquisitions will make PepsiCo Inc. the sole owner of Sabra Dipping Co. LLC, maker of Sabra products, and PepsiCo-Strauss Fresh Dips & Spreads International GmbH, maker of Obela products.
Sabra is a leading hummus brand with nearly $400 million in retail sales in the United States. PepsiCo has focused on the fresh dips category for more than 15 years and anticipates full ownership of Sabra and Obela will allow the company to accelerate innovation in refrigerated fresh dips and spreads to meet growing consumer demand.
PepsiCo formed Sabra and Obela as 50/50 joint ventures with the Strauss Group in 2008 and 2012, respectively. The Sabra joint venture is based in New York and operates in the U.S. and Canada while the Obela joint venture is based in Geneva and operates in Australia, New Zealand and Mexico.
With the acquisitions, PepsiCo will "develop more products that meet the growing demand for positive choices from North American consumers," the company said in a release.
The transactions are expected to close by the end of 2024.
