• by Danielle Oster , October 2, 2024

A decade or so after emerging from the Garza family kitchen, Siete Foods is the target of a billion-dollar acquisition.

PepsiCo has entered into a definitive agreement to acquire Austin,Texas-based Garza Food Ventures, which does business under the brand name Siete Foods, for $1.2 billion. The deal is subject to customary closing conditions and anticipated to close in the first half of 2025.

Siete Foods launched in 2014 and offers a range of heritage-inspired  tortillas, snacks, salsas, seasonings, cookies, and other grain- and dairy-free food products offering nontraditional takes on Mexican and Mexican-American cuisine.

The brand evolved out of co-founder Veronica Garza developing a grain-free tortilla recipe after she was diagnosed with autoimmune disorders, prompting dietary changes to control her symptoms. After launching in 2014 selling tortillas locally, the brand quickly grew and was available in Whole Foods stores by the end of 2016.

Siete Foods’ products are currently available at grocery stores, club stores, and organic food retailers across the country. “Siete” is Spanish for “seven,” a reference to the seven members of the Garza family. According to 2020 reporting by Inc., the brand essentially “created” its specialty category.

"Siete was created ten years ago to make heritage-inspired, Mexican-American food more widely available,” Siete Foods CEO and co-founder Miguel Garza said in a statement, adding that the company was embracing its new era under PepsiCo, allowing it to “bring our inclusive, better-for-you products to more people.”

"We hope this next chapter for Siete serves as inspiration for other Latino businesses, showing that it's possible to build a thriving brand that honors our heritage and celebrates our culture,” he added.

In a release announcing the acquisition, PepsiCo noted that the Siete brand would complement the company’s portfolio “with the addition of an authentic, Mexican-American brand” while also helping PepsiCo grow its “better-for-you food offerings.”