PepsiCo announced that it has entered into a definitive agreement to acquire Garza Food Ventures dba Siete Foods for $1.2B. “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.” The transaction is subject to customary closing conditions, including regulatory approval, and is expected to close in the first half of 2025. Additional terms of the acquisition were not disclosed.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PEP:
- PepsiCo price target raised to $185 from $182 at JPMorgan
- M&A News: PepsiCo (PEP) Eyes Siete Foods Deal to Bolster Healthy Snacks Portfolio
- PepsiCo in advanced talks to buy Siete Foods for over $1B, WSJ says
- PepsiCo price target lowered to $185 from $190 at BofA
- Celsius Holdings price target lowered to $43 from $45 at Roth MKM
Questions or Comments about the article? Write to editor@tipranks.com