Miguel Garza, Siete’s CEO and co-founder, expressed optimism about the future, stating, “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 honors our heritage and celebrates our culture.”
Industry and Antitrust Context
While the deal may not reach the scale of recent food industry megadeals, such as Mars’ $36 billion acquisition of Kellanova, PepsiCo’s acquisition of Siete follows a trend of consolidation in the food sector. Corporate food mergers have increasingly drawn attention from regulators, but the Siete deal is not expected to face significant antitrust scrutiny.
PepsiCo to Buy Siete : Financial and Legal Advisors
Centerview Partners LLC is serving as the lead financial adviser to PepsiCo, with Citi also providing financial advice. Siete is being advised by Lazard. On the legal side, Weil Gotshal & Manges LLP partners Gareth Clark and Karen Ballack are representing Siete, while additional counsel details were not immediately available.
