PepsiCo: acquisition of Tex-Mex brand Siete

(CercleFinance.com) - PepsiCo announced on Tuesday that it had reached a definitive agreement to acquire Siete, a manufacturer of Tex-Mex snacks, for some $1.
2 billion.

The American food group explains that the deal will enable it to round out its offering by adding a line of products that are both healthier and of multicultural origin.

Founded in 2014 by the Garza family, Siete produces and markets a range of tortillas, sauces, seasonings and savory cookies available in convenience, warehouse and organic stores.

PepsiCo, which emphasizes the authenticity of its products, says it expects to finalize the acquisition in the first half of next year.

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