In an intriguing move that underscores the growing popularity of health-conscious food brands, PepsiCo, the giant multinational food, snack, and beverage corporation, is reportedly buying Siete Family Foods. The Texas-born, family-run business, known for its grain-free tortilla chips, is being acquired for an impressive $1.2 billion.
Specializing in Mexican-American food, Siete Foods started as a small family endeavor to accommodate one of their own’s dietary restrictions. When Veronica Garza, diagnosed with an autoimmune disorder, adopted a grain-free diet to manage her health, she was unable to find grain-free Mexican food options. This led her to start making homemade grain-free tortillas. Her family of seven loved the tortillas so much that they decided to turn her innovative creation into a business. Hence, the name “Siete,” Spanish for seven, represents the family of seven who started the company.
This acquisition by PepsiCo, however, is not a random act of corporate acquisition. The multinational company is strategically eyeing healthier brands to meet the changing consumer demands for healthy and nutritious alternatives. In the last few years, PepsiCo’s acquisitions have included more health-focused brands, such as Bare Foods and Health Warrior.
Siete Family Foods’ products are free of grain, gluten, and dairy, aligning beautifully with the global trend of health-conscious consumption. A key point of attraction is the company’s tortilla chip line, produced with avocado oil or coconut oil, instead of the more traditionally used industrial seed oils. This line showcases a variety of flavors, such as ‘Sea Salt,’ ‘Jalapeno Lime,’ and ‘Nacho.’ Additionally, Siete Foods also offers tortillas, hot sauces, and dairy-free queso dips.
PepsiCo’s acquisition of Siete Family Foods is part of its ambitious expansion in the snack sector, and the company sees an excellent opportunity in the grain-free market. By acquiring Siete, PepsiCo will now have a bigger presence in health-oriented food markets, which are gaining considerable traction in the domestic and global arenas.
Furthermore, the acquisition is not merely based on the growth potential of the brand or the products. PepsiCo also recognizes and values Siete’s commitment to family values, community outreach, and dedication to their employees’ well-being. The Siete Foods family ethos aligns well with PepsiCo’s vision, adding further depth to this acquisition.
This landmark deal is estimated to be completed by early 2023, following regulatory approval and customary closing conditions. The Siete family will continue to own a portion of the company and remain actively involved in the business operations.
The acquisition marks a significant leap in PepsiCo’s growth strategy, paving the way for the multinational conglomerate to bolster its share in the health-conscious snack market. It also stands as a testament to Siete Family Foods’ incredible journey from a small family kitchen to becoming a much-loved, nationally recognized brand. Meanwhile, the Siete family, who started with making tort
