Pepsico to buy Siete Foods for US$1.2B

PepsiCo is set to acquire Garza Food Ventures aka Siete Foods for US$1.2 billion.

Founded in 2014, Siete produces heritage-inspired Mexican-American tortillas, salsas, seasonings, sauces, cookies, snacks, etc. Siete’s products can be found in grocery stores, club stores, and organic food retailers.

“The Garza family has built a very special brand. Their passion for making and sharing food shines through in every Siete product, and that’s a passion we share at PepsiCo,” said Ramon Laguarta, chair and CEO of PepsiCo. “PepsiCo believes in the spirit and authenticity of the Siete brand, and we’re excited to carry on the legacy created by the Garza family. We look forward to expanding our multicultural portfolio with these incredible products and even more consumers discovering and enjoying Siete.”

“We’re excited to embrace a new era with PepsiCo and bring our inclusive, better-for-you products to more people,” said Miguel Garza, CEO and co-founder of Siete Foods. “We hope this next chapter for Siete serves as inspiration for other Latino businesses, showing that it’s possible to build a thriving brand that honours our heritage and celebrates our culture.”

The transaction is expected to close in the first half of 2025. Additional terms of the acquisition were not disclosed.