This acquisition is a clear indication of PepsiCo (NASDAQ:PEP)'s strategy to adapt and grow within the health-conscious segment of the food industry. The information reported is based on a press release statement from PepsiCo.

Siete is officially part of PepsiCo Inc. The global food and beverage company announced plans to acquire Austin-grown Garza Food Ventures LLC, known as Siete, late last year — a $1.2 billion deal that was finalized Jan. 17. It’s unclear if Siete will move its headquarters or continue to be based in Austin.

PepsiCo Inc. has completed its acquisition of Garza Foods Ventures LLC, dba Siete Foods for $1.2 billion, according to a release from the company. The deal was first agreed upon and announced in October 2024, and it is the latest snack-related deal for the company, building upon prior acquisitions of PopCorners, Bare, Stacy’s Pita Chips and Sabra.

PepsiCo (NASDAQ:PEP) closed on its $1.2 billion acquisition of Siete Foods on Friday, in a move that expands its portfolio with an authentic Mexican-American brand. The deal is anticipated to enhance PepsiCo's (NASDAQ:PEP) multicultural offerings and strengthens its position in the better-for-you food segment.