PepsiCo to Purchase Mexican-American Snack Company for $1.2B

PepsiCo just announced that it has agreed to acquire Garza Food Ventures LLC, dba Siete Foods, for $1.2 billion. Siete offers better-for-you Mexican-American products, such as grain-free tortillas.

The acquisition will complement PepsiCo's portfolio with the addition of an authentic, Mexican-American brand. Siete products will bring a new aspect to the PepsiCo multicultural portfolio.

"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, chairman 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." 

Founded in 2014, Siete Foods produces authentic heritage-inspired tortillas, salsas, seasonings, sauces, cookies, snacks, and more. Siete products can be found in grocery stores, club stores, and organic food retailers primarily across the US.

The family owned and Austin, TX-based snack company cofounder and president, Veronica Garza, created the better-for-you Mexican-American snack company with family members, due to some health issues.

"Siete was created 10 years ago to make heritage-inspired, Mexican-American food more widely available. Now 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. 

PepsiCo's largest acquisition to-date was Pioneer Foods in March 2020 for $1.7 billion. The two companies have a shared commitment to serving South Africans by providing the highest quality food and beverage products.