Pepsi Just Made a $1.2 Billion Acquisition of Something That Has Nothing to Do With Carbonated Beverages

After 10 years in business, the Garza family sold their company Siete Foods to PepsiCo (NASDAQ: PEP) for a cool $1.2 billion. The deal for Siete was announced back in October but closed this January. Pepsi is an enormous business, and for it $1.2 billion is relatively small. But any purchase over $1 billion is still noteworthy.The surprising thing for some investors may be that Siete Foods doesn't have a single beverage in its product portfolio, let alone any carbonated beverages. Rather, the company makes food products that cater toward people looking for grain-free and dairy-free options in Mexican-American food.The acquisition of Siete Foods dovetails nicely with Pepsi's November acquisitions of Sabra and Obela. Pepsi had already owned half of both joint ventures but moved to acquire the rest, bringing more food products into Pepsi's portfolio.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool