PepsiCo Extends Bet on Clean Snack Foods With Bare Acquisition
PepsiCo is placing another bet that American nibblers want healthier options with acquisition of Bare Foods
(Bloomberg) -- PepsiCo Inc. is placing another bet that American nibblers want healthier options with the purchase of baked fruit and vegetable snackmaker Bare Foods Co.
The maker of Mountain Dew and Cheetos inked a deal to buy the San Francisco-based creator of products including beet chips and baked apple crisps. The terms of the deal weren’t disclosed.
PepsiCo, which has been fighting Americans’ departure from sodas, has increasingly relied on growth in its snack business. Health-conscious consumers who’ve moved away from sugar-laden drinks haven’t made the same shifts away from chips. PepsiCo has also introduced organic and healthier versions of some of its biggest snack brands.
“Bare premium baked fruit and vegetable chips are an exciting expansion of Frito-Lay’s better-for-you snack offerings,” Vivek Sankaran, president and chief operating officer for PepsiCo’s Frito-Lay North America unit, said in a statement. “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 contact the reporter on this story: Anne Riley Moffat in New York at ariley17@bloomberg.net
To contact the editors responsible for this story: Crayton Harrison at tharrison5@bloomberg.net, Jonathan Roeder
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