M&A Deal Summary

PepsiCo Acquires Siete Foods

On October 1, 2024, PepsiCo acquired food company Siete Foods from Stripes for 1.2B USD

Acquisition Highlights
  • This is PepsiCo’s 16th transaction in the Food sector.
  • This is PepsiCo’s 7th largest (disclosed) transaction.
  • This is PepsiCo’s 18th transaction in the United States.
  • This is PepsiCo’s 2nd transaction in Texas.

M&A Deal Summary
Date 2024-10-01
Target Siete Foods
Sector Food
Buyer(s) PepsiCo
Sellers(s) Stripes
Deal Type Add-on Acquisition
Deal Value 1.2B USD
Advisor(s) Lazard Ltd. (Financial)
Weil Gotshal & Manges (Legal)

Target

Siete Foods

Austin, Texas, United States
Siete Foods is a food brand, that makes grain-free products based in Austin, Texas.

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Buyer(S) 1

Buyer

PepsiCo

Purchase, New York, United States
Category Company
Founded 1898
Sector Beverages
Employees318,000
Revenue 91.5B USD (2023)
DESCRIPTION
PepsiCo office in Columbia, Maryland.
PepsiCo office in Columbia, Maryland.

PepsiCo is a global food and beverage company. PepsiCo's brands include Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. Through its operations, authorized bottlers, contract manufacturers and other third parties, PepsiCo makes, markets, distributes and sells a wide variety of beverages, foods and snacks. PepsiCo was founded in 1898 and is based in Purchase, New York.

DEAL STATS #
Overall 27 of 27
Sector (Food) 16 of 16
Type (Add-on Acquisition) 19 of 19
State (Texas) 2 of 2
Country (United States) 18 of 18
Year (2024) 1 of 1
Size (of disclosed) 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-03 Tropicana Products

Bradenton, Florida, United States

Tropicana Products is a provider of juices, and brands including Tropicana, Naked, KeVita, Izze, Dole, Copella, and Punica. Tropicana Products was founded in 1947 and is based in Bradenton, Florida.

Sell -

Seller(S) 1

SELLER

Stripes

New York, New York, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2008
PE ASSETS 7.3B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Stripes is a private investment firm focused primarily on making minority investments in rapidly growing, private companies. Stripes look to commit $10 to $150 million of equity capital per transaction to support acquisitions, growth equity needs, and provide shareholder liquidity. Target companies generally have high margins and operate in large markets. Sectors of interest include branded consumer products, financial services, medical devices, and technology. Stripes is formed in 2008 and is based in New York City.

DEAL STATS #
Overall 19 of 19
Sector (Food) 1 of 1
Type (Add-on Acquisition) 10 of 10
State (Texas) 2 of 2
Country (United States) 19 of 19
Year (2024) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-11 Pond5

New York, New York, United States

Pond5 is an online marketplace for royalty-free and editorial video, with customers including Netflix, Disney, NBC, BBC, Discovery Channel, and The Wall Street Journal. The company's comprehensive collection includes 30 million licensable video clips, 1.6 million music tracks, and 1.7 million sound effects assets. It serves the needs of creators across industries from individual users to major corporations with competitive pricing and an array of purchase options including a unique pay-per-item model. Purchases are backed by a broad and flexible license, the best price guarantee, and a dedicated team standing by to provide expert assistance. Pond5 was formed in 2006 and is based in New York, New York.

Sell -
Mergr

Product

Company

Legal