PepsiCo completed a $1.2 billion acquisition of Siete Foods in January 2024, expanding its portfolio with health-conscious Mexican-American inspired products. The deal marks a major growth milestone for the Latino-founded brand while helping PepsiCo meet consumer demand for nutritious and convenient food options.
- PepsiCo closed the $1.2 billion acquisition of Siete Foods on January 17, 2024
- Siete Foods started in an Austin, Texas food co-op in 2014 and now operates in over 40,000 retailers
- The brand offers health-conscious products including grain-free tortillas, almond tortillas, sauces, chips, and vegan beans
- PepsiCo plans to preserve Siete's brand identity while expanding its availability and accessibility globally
- The acquisition represents a significant milestone for Latino entrepreneurship and family-founded businesses
In October 2024, PepsiCo announced its intent to acquire Siete Foods, a growing Mexican-American inspired food brand. The global food and beverage manufacturer has closed a $1.2 billion acquisition of the brand, the company announced in a Jan. 17 press release.
Acquiring Siete Foods will help PepsiCo further expand its portfolio of products with nutritious, simple foods and ingredients, the company says.
"We're committed to transforming our portfolio to include more positive choices that meet consumer demand for convenient and delicious products," states Steven Williams, CEO of PepsiCo North America. "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."
Siete began operations in an Austin, Texas food co-op in 2014 producing almond tortillas. Over time, the brand grew to offer a variety of health-conscious products, including grain free tortillas, enchilada sauces, taco seasonings, botana sauces, Mexican cookies, vegan beans, grain free puffs, tortilla chips, potato chips, and salsas at more than 40,000 retailers.
"Today marks a defining moment in Siete's journey and an exciting chapter of growth and expansion for our brand," says Miguel Garza, CEO and Co-Founder 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."
