AUSTIN, Texas — An Austin-based food brand is now officially part of one of the world’s biggest corporations.
PepsiCo has finalized a $1.2 billion purchase of Siete Foods, a Mexican-American brand that sells chips, tortillas and sauces among other things. The deal was officially finalized on Jan. 17, according to the Austin Business Journal.
“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,” PepsiCo chairman and CEO Ramon Laguarta said in October, when the acquisition was first announced. “We look forward to expanding our multicultural portfolio with these incredible products and even more consumers discovering and enjoying Siete.”
“We love the Siete brand for the same reason so many loyal consumers do and are dedicated to preserving its special attributes while making the brand more widely available and accessible on a broader scale,” CEO of PepsiCo North America Steven Williams said in a statement.
The history of Siete Foods
Siete, or Garza Food Ventures LLC, was created ten years ago in South Texas by co-founder Veronica Garza.
As a teenager, Garza was diagnosed with multiple autoimmune diseases, including lupus. To combat her health struggles, she worked alongside her mother to produce unique recipes, eventually crafting an almond flour-based tortilla.
“I wanted to eat tacos on something other than a piece of lettuce,” Garza told KVUE last year. “I want to make enchiladas. I want to, you know, be able to enjoy all of these foods.”
Ten years later, the thriving business offers a wide variety of healthy products, including grain-free Fuego potato chips, Cassava flour tortillas and Tangy Traditional sauce.
“It’s really important for us that people are able to eat and enjoy Mexican-American food without feeling like they’re compromising,” Garza said.
Roughly four years ago, the Siete Juntos Fund, or the Together Fund, was created to provide $200,000 for new and expanding Latino companies.
Siete’s manufacturing site is currently in Austin, though it is unclear if it will relocate its operations now that the sale has been finalized.
“Today marks a defining moment in Siete’s journey and an exciting chapter of growth and expansion for our brand,” CEO and co-founder of Siete Foods Miguel Garza said in a statement. “The overwhelming support and passion we’ve seen — from the love for our products to the celebration of this milestone for Latino entrepreneurship — have profoundly inspired us. As we join PepsiCo, my family and I are committed to honoring, amplifying, and continuing to build the Siete brand and welcoming even more people to join us at the table.”
Siete sells its products not just in Texas, but throughout parts of the United States.