PepsiCo moves to acquire Siete Foods for $1B

PepsiCo is reportedly in advanced negotiations to acquire Siete Foods, a tortilla-chip manufacturer, for over $1 billion. This potential acquisition is part of PepsiCo's strategy to expand its portfolio of healthier snack options, particularly as consumer preferences shift towards products with lower sodium, saturated fat, and sugar levels. Siete Foods is known for its innovative offerings, including tortillas made from almond flour, which align with the growing demand for healthier alternatives in the snack food market. The acquisition comes at a time when the U.S. packaged food industry is experiencing significant deal activity, driven by companies seeking to adapt to changing consumer behaviors amid economic pressures. The announcement of this deal could occur soon if negotiations proceed without issues, reflecting PepsiCo's commitment to enhancing its product lineup in a competitive landscape. This move follows PepsiCo's previous acquisitions in the snack sector, including Bare Foods and BFY Brands, indicating a consistent strategy to diversify and improve its health-oriented offerings.