The Sabra joint venture will produce and sell fresh dips and spreads in the U.S. and Canada, while drawing on both Strauss Group and Frito-Lay North America's (FLNA) marketplace expertise to continue building the business. Sabra will expand FLNA's role in providing healthier snack options, and highlights the company's commitment to the on-trend fresh category. PepsiCo's FLNA division and Strauss will each own 50% of the business.
Terms of the transaction were not disclosed. The transaction is expected to be finalized in early 2008.
Frito-Lay is the $10 billion convenience food division of PepsiCo.
--Nina M. Lentini
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