PepsiCo: Siete Foods Acquisition Adds to Snack Giant’s Better-for-You Offerings

Wide-moat PepsiCo announced plans to pay $1.2 billion to buy Texas-based Siete Foods—known for its Mexican-style snacks made with quality ingredients and healthy recipes. Its products are widely distributed in the US via Walmart, Target, and Whole Foods, as well as through quick service chains such as Starbucks and Sweetgreen. Expected to close in 2025, the deal is the largest food acquisition for PepsiCo in recent years, following its $1.2 billion purchase of Pioneer Foods in South Africa in 2020, and signals the snack giant’s commitment to expanding healthier snack options to cater to rising consumer health awareness. In the past few years, PepsiCo scooped up other healthy snack brands, including Bare Foods, Health Warriors, and PopCorners, in smaller deals.