📣 📣 📣 Some exciting news, fresh off the (tortilla) press!
PepsiCo announced this week that they will be acquiring the better-for-you Mexican-American family food brand, Sieto Foods, for a whopping $1.2 billion! Siete, a company famous for its delicious almond flour tortillas, among other incredible products, is expected to close in early 2025 subject to regulatory approval. 🌮
Sieto Family Foods specializes in heritage-inspired Mexican snacks, sauces, spices, tortillas, cookies and more. Founded in 2014, the company is a community-orientated family-run business that began when daughter Veronica Garza was diagnosed with a range of debilitating autoimmune illnesses. In an effort to manage her symptoms, she began pursuing a grain-free, anti-inflammation diet. Her family hopped on board in support, but alas, the tacos and fajitas that they used to enjoy on traditional flour tortillas just didn’t taste as good served in lettuce leaves. To solve the problem, Veronica set out to develop a grain-free tortilla that would hold its own on the family dinner table. When Veronica’s grandmother told her the flour-free tortillas were even better than the old family recipe, Veronica knew she was onto something.
The rest, as they say, is history. A decade later, Sieta’s products are backed by celebrities and distributed across 40,000 retail stores in North America, including Whole Foods and Target.
The acquisition marks a move by PepsiCo to grow its better-for-you portfolio, the expansion of which has been a focus for the company over the last 5 years. The better-for-you snack market is currently estimated to be worth USD 47.4 billion and is expected to grow at a CAGR of 7.6% from 2024 to 2030. Driving better-for-you category growth is increasing consumer demand for healthier products with positive nutrition, recognizable ingredients, and clean labels. In response to this consumer trend, PepsiCo announced its PepsiCo Positive (pep+) initiative in 2021 outlining the company’s plan to increasingly produce and promote products that are better for both people and the planet. This includes measures to significantly reduce added sugars, saturated fats, and sodium in its products by 2025. The initiative includes working closely with product developers to reformulate and innovate recipes in alignment with the scientifically-based nutrition guidelines outlined in the PepsiCo Nutrition Criteria (PNC). Strategic acquisitions mix the right ingredients for success!
🥁 It’s easy to see why Siete Foods would catch PepsiCo’s eye in this regard. From almond flour tortillas to grain-free, vegan chocolate chip cookies, Siete strikes the balance between healthier product options made with the finest thoughtfully selected ingredients and exceptionally good taste. Combined with the company’s ongoing commitment to community, the quality and deliciousness of its products have turned the brand into a firm family favorite across the US. 🥁
We wish the Garza family and the Siete team all the best as they embark on this exciting new journey! Here’s to another 10 years of exceptional Mexican-American deliciousness!
And if you’re looking to source high-quality ingredients for your business, give our team a call!
