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-0.000203569247472356 -0.00149284114813055 0 -0.00196783605889931 -0.00135712831648225 -0.00162855397977885 -0.000339282079120658 -0.0025398656442967
Stock impact report

US hot-sauce brand Tapatio sold to private equity [Yahoo! Finance]

PepsiCo, Inc. (PEP) 
Last pepsico, inc. earnings: 4/28 06:03 am Check Earnings Report
US:NYSE Investor Relations: pepsico.com/investors
Company Research Source: Yahoo! Finance
The founding Saavedra family retains a minority stake in the business. US investor The Arnold Companies is taking a “significant” minority shareholding in Tapatio, a statement announcing the deal said. Financial details were not revealed. Tapatio said Highlander's backing will support its efforts to broaden distribution. In the statement, it was said Tapatio intends to use the investment to step up product development and move into “complementary” new product areas. Jeff Partridge, a partner at Highlander, said: "We share the Saavedra family's vision to maintain the brand's legacy as we carefully and purposefully target opportunities to grow the brand geographically, introduce new flavours and products, and deepen penetration in both the retail and foodservice channels." Tapatio was founded by Jose-Luis Saavedra Sr. in 1971. In addition to hot sauces, the company also offers Tapatio-flavoured snacks like Doritos and Cheetos through a long-standing collaboration with Frito-Lay Show less Read more
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