PepsiCo expands relationship with hummus maker
March 16, 2011
by Eric Schroeder
PURCHASE, N.Y. — PepsiCo, Inc. and Strauss Group, Israel’s second-largest food and beverage company, are partnering to produce and sell fresh dips and spreads in key markets outside of North America. The partnership is the second such joint venture for the two companies, which in 2007 joined to produce and sell hummus, dips and spreads under the Sabra brand.
PepsiCo and Strauss will each own a 50% interest in the joint venture and will leverage their infrastructures to invest in manufacturing facilities, technologies and employees to set up local operations on a country or regional level.
“Making healthier snacking options more accessible to consumers is a huge global opportunity, and we’re well positioned to be a leader in this space,” said Jaya Kumar, president of Global Nutrition Platforms, PepsiCo Global Nutrition Group. “This agreement will enhance our efforts to ensure that products made from vegetables and other fresh ingredients are both enjoyable and affordable, which supports PepsiCo’s global nutrition strategy.”
Gadi Lesin, president and chief executive officer of Strauss Group, said, “PepsiCo’s excellent global infrastructure combined with Strauss’s knowledge, innovation and expertise in the fresh food domain, will result in an international company whose products meet the daily needs of consumers in various countries and help to improve their quality of life.”
The joint venture is the latest in a series of initiatives launched by both PepsiCo and Strauss to promote health and wellness throughout their respective product portfolios. In October 2010, PepsiCo formed its Global Nutrition Group to accelerate product development in the areas of fruits and vegetables, whole grains, dairy and functional nutrition.