(RTTNews) - PepsiCo (PEP) has entered into a definitive agreement to acquire Garza Food Ventures LLC, dba Siete Foods for $1.2 billion. Siete produces authentic heritage-inspired tortillas, salsas, seasonings, sauces, cookies, snacks and more. PepsiCo said the acquisition will complement its portfolio with the addition of an authentic, Mexican-American brand, while also growing its better-for-you food offerings. Additional terms were not disclosed.
"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, CEO of PepsiCo.
Siete's products can be found in grocery stores, club stores, and organic food retailers primarily across the U.S.
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