09:48 AM EDT, 10/01/2024 (MT Newswires) -- PepsiCo ( PEP ) said Tuesday that it signed a definitive deal to acquire Garza Food Ventures, which does business as Siete Foods, for $1.2 billion.

The company said Siete Foods is a Mexican-American brand that is expected to complement is existing portfolio. PepsiCo ( PEP ) expects to close the transaction in the first half of 2025, subject to customary closing conditions.

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