Food acquisition news : Soft drinks and snacking giant PepsiCo will acquire Bare Foods (trading as Bare Snacks), an American food company that makes baked fruit and vegetable snacks.
PepsiCo Acquisition of Bare Snacks
The financial terms of PepsiCo acquisition of Bare Snacks were not revealed.
With the acquisition PepsiCo will broaden its snacking portfolio while offering its consumers better nutrition options.
Commenting on PepsiCo acquisition of Bare Snacks, Indra Nooyi – chairman and CEO of PepsiCo, said: “For nearly a dozen years, PepsiCo has been committed to Performance with Purpose, our vision of making more nutritious products, while also reducing added sugars, salt, and saturated fat. Bare Snacks fits perfectly within that vision.
“The Bare Snacks leadership team has done an outstanding job building a top-tier organization and a strong brand with authentic roots, and I couldn’t be more excited to welcome Bare Snacks to the PepsiCo family.”
PepsiCo to acquire Bare Snacks to expand its better-for-you portfolio. Image: PRNewsfoto/PepsiCo.PepsiCo
Bare Snacks, which was created in 2001, has its roots from an organic apple farm in Washington which started selling packaged baked apple chips in local markets.
Today, the baked fruit and vegetable snacks manufacturer has grown steadily to become a leading producer of apple, banana and coconut snacks, said PepsiCo.
Recently, Bare Snacks forayed into the vegetable chips segment, offering a range of baked crunchy fruit and vegetable chips.
According to PepsiCo, Bare Snacks’ products are made from simple ingredients that are baked and not fried. They are sold online and also across natural and conventional retail channels in the United States.
Santosh Padki – CEO of Bare Foods, commenting on PepsiCo acquisition of Bare Snacks, said: “We are thrilled to work with the PepsiCo team to further our mission of bringing simplicity to snacking.
“With a shared passion for crunchy, better-for-you snacks, PepsiCo is the right partner to help bring our simply baked fruit and vegetable snacks to even more consumers across the world and continue to grow our brand.”
After completion of the PepsiCo acquisition of Bare Snacks, the baked fruit and vegetable snacks manufacturer will continue to operate as an independent entity from its existing headquarters in San Francisco and will come under the Frito-Lay North America division of PepsiCo.
Reacting on PepsiCo acquisition of Bare Snacks, Vivek Sankaran – president and chief operating officer for Frito-Lay North America, said: “Bare premium baked fruit and vegetable chips are an exciting expansion of Frito-Lay’s better-for-you snack offerings.
“While we will continue to offer the current Bare Snacks product line, we look forward to working with the Bare Snacks team to deliver new, innovative options, and ultimately expanded distribution, to meet the ever-growing consumer demands for authentic and nutritious snacks.”
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