By Swann Collins, investor, writer and consultant in international affairs – Eurasia Business News. September 30, 2024. Article no 1244.

PepsiCo is in advanced negotiations to acquire Siete Foods, a Texas-based tortilla-chip maker, for over $1 billion, reports the Wall Street Journal. This potential deal comes as part of a broader trend in the U.S. packaged food sector, where companies are seeking to expand their portfolios amid changing consumer preferences and increased competition from private-label brands.

Siete Foods, known for its grain-free Mexican-American products, has attracted significant interest from various bidders, including private equity firms.

Based in Austin, Texas, Siete Family Foods is family-owned and operated by all seven (siete!) members of the Garza family.

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If finalized, this acquisition could be announced soon, pending the outcome of ongoing discussions. This acquisition would allow PepsiCo to enhance its portfolio with products that cater to health-conscious consumers.

 The U.S. packaged food sector is currently experiencing significant changes, with consumers increasingly shifting towards private-label brands and healthier options amid rising inflation. By acquiring Siete Foods, PepsiCo aims to strengthen its market position and adapt to these evolving consumer preferences.

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© Copyright 2024 – Eurasia Business News. Article No. 1244.