PepsiCo announced Tuesday that it has agreed to acquire Mexican-American food brand Siete Foods for $1.2 billion. The acquisition will enhance PepsiCo’s portfolio by adding a prominent “better-for-you” brand known for its nontraditional Mexican and Mexican-American food products. The deal, which is expected to close in the first half of 2025, is being guided by Gibson Dunn & Crutcher LLP for PepsiCo, while Siete is advised by Weil Gotshal & Manges LLP and Armbrust & Brown PLLC.
PepsiCo to Buy Siete : Expanding PepsiCo’s Authentic Offerings
In a statement, PepsiCo Chairman and CEO Ramon Laguarta emphasized the significance of Siete Foods’ cultural authenticity, stating, “The Garza family has built a very special brand. 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.”
Founded in 2014 in Austin, Texas, Siete has gained a strong foothold in the U.S. market with its healthier takes on traditional Mexican foods, offering products such as tortillas, salsas, and snacks that are widely available in grocery and club stores.
A Strategic Acquisition
PepsiCo’s acquisition of Siete reflects its ongoing strategy of bolstering its portfolio with health-conscious brands. The move continues the food and beverage giant’s long history of growth through mergers and acquisitions. Over the past decade, PepsiCo has added companies like Rockstar Energy, SodaStream, and Bare Snacks to its portfolio, which generated over $91 billion in net revenues in 2023.
