PepsiCo, Inc. (NASDAQ: PEP) benefits from strength in core categories, diversified portfolio, modernized supply chain, improved digital capabilities and flexible go-to-market distribution systems. In the latest revelation, the company has agreed to buy Garza Food Ventures LLC, dba Siete Foods (Siete), worth $1.2 billion.

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Founded 10 years back, Siete offers Mexican-American food. This deal looks forward to complementing PepsiCo's portfolio by adding this attractive Mexican-American brand, apart from expanding the better-for-you offerings.

The deal will add new heritage-inspired Siete products to PepsiCo's portfolio. Siete makes authentic tortillas, salsas, seasonings, sauces, cookies and snacks, among others. Its products are available in grocery stores, club stores and organic food retailers mainly in the United States.

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Hence, PepsiCo is quite excited to carry forward the legacy of the Garza family. Management looks to create and expand PEP's multicultural portfolio with the incredible food offerings ...

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