PepsiCo to Purchase Siete Foods for $1.2 Billion
PURCHASE, N.Y. and AUSTIN, Texas – October 3, 2024 – PepsiCo, Inc. has entered into a definitive agreement to acquire Garza Food Ventures LLC, the parent company of Siete Foods, for $1.2 billion.
This acquisition adds a fast-growing, Mexican-American brand to PepsiCo’s multicultural portfolio. Siete Foods, founded in 2014, will play an important role with meals and culinary experiences.
Siete Foods is known for its tortillas, salsas, seasonings, snacks, and cookies — all crafted with a focus on inclusivity and better-for-you ingredients. Siete’s products can be found across the U.S. in grocery stores, club stores, and organic food retailers.
“The Garza family has built a very special brand, said Ramon Laguarta, Chairman and CEO of PepsiCo, in a recent press release. “Their passion for making and sharing food shines through in every Siete product, and that’s a passion we share at PepsiCo.”
Miguel Garza, CEO and Co-Founder of Siete Foods, added in the recent press release: “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.”
The deal, expected to close in the first half of 2025, will complement PepsiCo’s expanding portfolio, offering refreshment operators more diverse, on-trend product options to satisfy growing consumer demand for health-focused and culturally rich food experiences. The deal is subject to customary closing conditions, including regulatory approval.
Laguarta further expressed his enthusiasm for the acquisition: “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.”
About PepsiCo
PepsiCo’s food and beverage products are consumed over a billion times a day across more than 200 countries and territories. Its portfolio includes leading brands such as Lay’s, Doritos, Gatorade, Pepsi-Cola, and more. With 2023 net revenues exceeding $91 billion, PepsiCo continues to innovate toward healthier, more sustainable products. Learn more at PepsiCo.com.
About Siete Foods
Siete Foods creates heritage-inspired Mexican-American foods designed to bring inclusivity to every table. Available across 40,000 retail locations and online, Siete’s products include tortillas, enchilada sauces, taco seasonings, Mexican cookies, snacks and more. Learn more at sietefoods.com.
