PepsiCo to acquire Siete Foods for $1.2bn.

PepsiCo, an American multinational food, snack, and beverage corporation, agreed to acquire Siete Foods, a Mexican-American food brand producing tortillas, salsas, seasonings, sauces, cookies and snacks, for $1.2bn. "The Garza family has built a very special brand. Their passion for making and sharing food shines through in every Siete product, and that's a passion we share. PepsiCo believes in the spirit and authenticity of the Siete brand, and we're excited to carry on the legacy created by the Garza family. We look forward to expanding our multicultural portfolio with these incredible products and even more consumers discovering and enjoying Siete," Ramon Laguarta, PepsiCo Chairman and CEO.