Sept 30 (Reuters) - PepsiCo ( PEP ) is in advanced talks

to acquire tortilla-chip maker Siete Foods for more than $1

billion, the Wall Street Journal reported on Monday, citing

people familiar with the matter.

Texas-based Siete Foods is owned by the Garza family and

operated by all seven of its members.

A deal for the closely held Siete Foods could be announced

soon unless the talks fall apart, the report said.

The sale process for the business has been competitive, with

the company drawing takeover interest from private-equity firms

and other food companies, some of the people familiar with the

matter told the Wall Street Journal.

PepsiCo ( PEP ) declined to comment.

The deal comes in the midst of robust dealmaking in the U.S.

packaged food sector as companies seek to scale their businesses

at a time when inflation-weary consumers cut back spending and

shift their purchases to private-label brands.

Demand for PepsiCo's ( PEP ) snacks and soda, mainly in the United

States, its largest market, has taken a hit from a series of

price hikes and competition from private-label brands.

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by

Shailesh Kuberand Devika Syamnath)