The Purchase, New York-based conglomerate is said to be in advanced talks to acquire Siete Foods, an Austin, Texas-based company known for its grain-free and dairy-free Mexican-inspired products like tortillas and dairy-free queso.
Founded by the Garza family in 2014, Siete Foods has garnered attention from private equity firms and food companies alike. However, PepsiCo appears to be leading the race to finalize the deal, though negotiations could still fall apart.
This potential acquisition comes as PepsiCo faces challenges with shifting consumer preferences and increased competition from private-label brands. The deal also further aligns PepsiCo more strongly with the growing demand for health-forward, gluten-free and vegan snacks, solidifying its presence in this evolving market.
Although PepsiCo has declined to comment, this move fits within broader industry trends of consolidation as companies aim to offset inflation and meet new consumer expectations.
