PepsiCo to Acquire the Fruit and Veggie Snack Maker Bare Foods [The New York Times]
PepsiCo, Inc. (PEP)
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Source: The New York Times
Continuing to bet that consumers want to crunch on healthier snack items, the food and beverage giant PepsiCo announced Friday that it was acquiring Bare Foods, a maker of baked fruit and vegetable snacks. For PepsiCo, which did not make public the financial terms of the deal, the purchase of a company that makes products like salt-and-vinegar beet chips and Granny Smith apple chips is its latest effort to diversify its food and beverage portfolio and move toward the more natural, less-processed foods that are now in favor by an increasingly health-conscious public. “We have been on a journey of broadening the snack portfolio for many years now,” said Vivek Sankaran, president and chief operating officer for PepsiCo’s Frito-Lay North America unit, noting the brand’s earlier development of Simply Tostitos organic tortilla chips, Simply Organic Doritos and Off the Eaten Path , which makes crispy snacks using vegetables like black beans and green peas. Since 2006, the percentage
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