PepsiCo acquires Bare Foods for $200M

PepsiCo acquires Bare Foods for $200M
The Siliconreview
28 May, 2018

PepsiCo will be looking forward to providing some healthy and tasty snacks for the consumers. Last week, the food and beverage giant has announced its acquisition of a San Francisco-based startup brand called Bare Foods, maker of baked fruit and vegetable snacks for $200M. The move by PepsiCo will expand their food range and will continue to offer consumers with healthy nutrition options.

“PepsiCo is the right partner to help bring our baked fruit and vegetable snacks to more consumers across the world and continue to grow our brand,” said Santosh Padki, CEO, Bare Foods.

 Bare Foods was started in 2001 by Eric Strandberg. Initially, he started selling organic apples in Washington and began slicing and baking them. After that, the company offered healthy and organic snacks at Pike Place in Seattle. Upon closing, the company will continue to run the business from San Francisco under Frito Lay, the North American division of PepsiCo.

“PepsiCo has been trying to make more nutritious and healthy products while also reducing added sugars, salt and saturated fat in its products,” added Patkai

Currently, PepsiCo has 22 different brands under its portfolio which include brands like Tropicana, Gatorade, and Quaker.

“Bare premium baked fruit and vegetable chips are a great expansion of Frito-Lay’s better-for-you snack offerings,” said Vivek Sankaran, President, and COO of PepsiCo’s Frito-Lay North America unit.