PepsiCo to Acquire Siete Foods for $1.2B in Tortilla Chip Deal

PepsiCo, a global food and beverage giant, intends to acquire Siete Foods, a popular maker of grain-free tortilla chips and other Mexican-inspired products. The acquisition, valued at $1.2 billion, is expected to strengthen PepsiCo’s position in the healthy snacking market and align with its broader strategy of expanding its portfolio of premium brands.

Siete Foods, founded in 2014, has gained significant traction among health-conscious consumers seeking healthier alternatives to traditional snack foods. The company’s products are known for using high-quality ingredients, such as almond flour and cassava, and their commitment to clean labeling.

The acquisition of Siete Foods is a strategic move for PepsiCo, as it seeks to capitalize on the growing trend towards healthier snacking options. By adding Siete Foods to its portfolio, PepsiCo can offer consumers a wider range of products that cater to their preferences for healthier, more nutritious snacks.

Furthermore, the deal aligns with PepsiCo’s efforts to diversify its revenue streams and reduce its reliance on carbonated beverages. The company has been actively investing in healthier food and beverage options, recognizing the changing consumer preferences and the growing demand for healthier products.

The acquisition of Siete Foods is expected to be completed in the first half of 2025. Once the deal is finalized, Siete Foods will join PepsiCo’s Frito-Lay division, joining other popular snack brands such as Lay’s, Doritos, and Cheetos.

The acquisition of Siete Foods is a significant step forward for PepsiCo as it continues to expand its presence in the healthy snacking market. By acquiring a company with a strong reputation for quality and innovation, PepsiCo is positioning itself to capitalize on the growing demand for healthier, more sustainable food products.