Industry News

PepsiCo wraps up $1.2B acquisition of Siete Foods

The acquired company specializes in tortilla chips and other Latino-inspired snacks.

Siete tortilla chips — Courtesy of Siete Foods

PepsiCo has announced that it has closed the acquisition of Garza Food Ventures, dba Siete Foods, for $1.2 billion.

Over the past two decades, PepsiCo has bolstered its food and beverage brand portfolio with a number of companies. According to the company, it “continues to expand positive choices for consumers by reducing salt, sugar, and saturated fat from loved brands without compromising taste and transforming its portfolio through continuous innovation and strategic acquisition to include more positive nutrition.”

Siete, a food brand that has grown in recent years, is the latest in a line of PepsiCo acquisitions that include PopCorners, Bare, Stacy's Pita Chips, and most recently, Sabra. With Siete, PepsiCo reports it aims to further expand its portfolio of products with nutritious, simple foods and ingredients and bring this popular, growing brand to new consumers.

"We're committed to transforming our portfolio to include more positive choices that meet consumer demand for convenient and delicious products," says 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."

Siete started with a single almond flour tortilla sold in an Austin co-op. Today, the Siete Foods portfolio spans a variety of authentic, better-for-you products, including Grain Free Tortillas, Enchilada Sauces, Taco Seasonings, Botana Sauces, Mexican Cookies, Vegan Beans, Grain Free Puffs, Tortilla Chips, Potato Chips, and Salsas at more than 40,000 retailers.

"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. "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.”

Garza concludes, “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."