PepsiCo buys Siete Foods for $1.2 billion, expanding its food portfolio beyond beverages.
PepsiCo acquired Siete Foods, a maker of grain-free and dairy-free Mexican-American foods, for $1.2 billion, continuing its push to expand its food portfolio beyond beverages. This move follows acquisitions of Sabra and Obela and reflects PepsiCo's strategy to capitalize on food's better margins and growth, especially internationally, despite the beverage market's slower growth. PepsiCo's stock offers a reliable investment with a dividend yield over 3.5%.
2 months ago
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