PepsiCo to acquire the remaining 50% stake in Sabra and Obela from Strauss Group.

PepsiCo, a food, snack, and beverage corporation, agreed to acquire the remaining 50% stake in Sabra and Obela, two refrigerated dips and spreads companies, from Strauss Group, a manufacturer and marketer of consumer foods. Financial terms were not disclosed. "As we evolve our food portfolio and bring people more choices for more occasions, our aim is to meet the growing demand for positive choices and on-the-go options. Nutritious, simple foods like refrigerated dips and spreads represent a space we have long desired to expand in the U.S. and Canada. We are grateful to the Strauss Group for our long and successful partnership and look forward to this next chapter for the Sabra and Obela brands, as well as the PepsiCo food portfolio," Steven Williams, PepsiCo Foods North America CEO.