PepsiCo Inc. completed its acquisition of Garza Food Ventures LLC for $1.2 billion in January. The company, better known by its trade name Siete Foods, adds an authentic Mexican-American brand to the PepsiCo portfolio and aligns with the food and beverage maker’s goal to expand its better-for-you snacks brands.
The growing Siete brand is the latest in a line of PepsiCo acquisitions, which also includes PopCorners, Bare, Stacy's Pita Chips and Sabra. In a statement, the company said it expects to bring this popular, growing brand to new fans in even more places with Siete.
What they are saying
"We're committed to transforming our portfolio to include more positive choices that meet consumer demand for convenient and delicious products," said Steven Williams, CEO of PepsiCo North America. "We love the Siete brand for the same reason so many loyal consumers do and are dedicated to preserving its special attributes while making the brand more widely available and accessible on a broader scale."
"Today marks a defining moment in Siete's journey and an exciting chapter of growth and expansion for our brand," said Miguel Garza, CEO and co-founder of Siete Foods, in a January 17 release. "When our family founded Siete 10 years ago, it was with a heartfelt mission: to share the beauty of our Mexican-American heritage and Latino culture with the world, creating foods that everyone can enjoy, love, and feel connected to. The overwhelming support and passion we've seen — from the love for our products to the celebration of this milestone for Latino entrepreneurship — have profoundly inspired us. As we join PepsiCo, my family and I are committed to honoring, amplifying, and continuing to build the Siete brand and welcoming even more people to join us at the table."
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