PURCHASE, NY. — Three-and-half months after unveiling the $1.2 billion deal, PepsiCo, Inc. has wrapped up its acquisition of Mexican-American food and snack brand Siete Foods.
The trade name of Austin, Texas-based Garza Food Ventures LLC, Siete Foods brings PepsiCo a portfolio with both authentic Mexican and better-for-you offerings, from grain-free tortillas, enchilada sauces, taco seasonings, botana sauces and Mexican cookies to vegan beans, grain-free puffs, tortilla chips, potato chips and salsas. Siete’s products are sold at more than 40,000 retailers, including grocery stores, warehouse clubs and organic food stores, mainly across the United States.
When announcing the Siete acquisition on Oct. 1, Purchase-based PepsiCo, the parent of Frito-Lay, said it expected to close the transaction in the first half of 2025.
“We’re committed to transforming our portfolio to include more positive choices that meet consumer demand for convenient and delicious products,” said Steven Williams, chief executive officer of PepsiCo North America.
PepsiCo said the addition of Siete’s lineup of nutritious, simple foods and ingredients aligns with its efforts to offer consumers more better-for-you meal and snack options by reducing salt, sugar and saturated fat in products without compromising taste, while also providing more “positive nutrition.” The beverage and food giant cited its acquisition of brands such as PopCorners in 2019, Bare Foods in 2018, Stacy’s Pita Chips in 2006, and most recently, Sabra. In late November, PepsiCo unveiled a deal to buy the remaining 50% interest in the manufacturers of Sabra and Obela from joint-venture partner Strauss Group.
“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,” Williams said.
Founded in 2014 in Austin, Siete brought together all seven members of the Garza family to provide heritage-inspired foods for a variety of dietary needs and preferences, according to the company.
“Today marks a defining moment in Siete’s journey and an exciting chapter of growth and expansion for our brand,” said Miguel Garza, co-founder and CEO 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. 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.”
When PepsiCo reported third-quarter results a week after unveiling the acquisition, CEO Ramon Laguarta told analysts that Siete would build on the strategic game plan for Frito-Lay North America.
“The acquisition of Siete hopefully will give us another tool to capture both permissible locations and enter into meals in a way that is sustainable in the long term,” Laguarta said, “but there are many other brands in the portfolio that can play in both of those spaces.”