PepsiCo to acquire Spitz
October 29, 2008
by FoodBusinessNews.net Staff
PURCHASE, N.Y. — PepsiCo, Inc. announced an agreement to acquire Spitz International, Inc., a maker of sunflower and pumpkin seeds in Canada.
"We are looking forward to having Spitz’s leading seed brands in the Frito-Lay family," said Al Carey, Frito-Lay North America president and chief executive officer. "Spitz enables Frito-Lay Canada to grow our seed business in Canada and help us expand in the U.S. while supporting PepsiCo’s broader health and wellness strategy. Spitz has a very strong brand in Canada, and we plan to create new growth opportunities for the brand across North America."
After the acquisition, Spitz will continue its Canadian operations in Bow Island and Medicine Hat, Alta., and will report into Frito-Lay North America.
Spitz seeds are distributed nationally in Canada and available in the United States. The sunflower seeds come in six flavors — salted, seasoned, dill pickle, spicy, chili lime and smokey BBQ — and the pumpkin seeds are available in three flavors — salted, seasoned and dill pickle.
The acquisition is designed to support Frito-Lay’s plans to expand in the nuts and seeds category. Terms of the agreement were not disclosed.