PURCHASE, NY and AUSTIN, TX — PepsiCo has entered an agreement to acquire Siete Foods, a Mexican-American food brand, for $1.2 billion. Additional terms of the deal were not disclosed.
“Siete was created ten years ago to make heritage-inspired, Mexican-American food more widely available,” said Miguel Garza, CEO and co-founder of Siete Foods. “Now we’re excited to embrace a new era with PepsiCo and bring our inclusive, better-for-you products to more people. 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.”
“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.” — Miguel Garza | CEO and co-founder | Siete Foods
The transaction will bolster PepsiCo’s multicultural portfolio and better-for-you product offerings.
“The Garza family has built a very special brand,” said Ramon Laguarta, chair and CEO of PepsiCo. “Their passion for making and sharing food shines through in every Siete product, and that’s a passion we share at 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 expected to close in the first half of 2025.
