UPDATE 1-Pepsi to buy Granny Smith apple chips maker Bare Foods [Reuters]
PepsiCo, Inc. (PEP)
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Source: Reuters
Pepsi to buy Granny Smith apple chips maker Bare Foods | Reuters Reuters Staff 2 Min Read (Reuters) - PepsiCo Inc ( PEP.O ) said on Friday it would buy baked fruit and vegetable snack maker Bare Foods Co, as the food and beverage company expands its fast-growing healthy snack portfolio. Bare Foods, founded in 2001 in a family owned organic apple farm, sells its Granny Smith apple chips, banana and coconut snacks at stores including Starbucks Corp ( SBUX.O ) and Amazon.com’s ( AMZN.O ) Whole Foods Market. The companies did not disclose the financial terms of the deal, while CNBC, citing a source, said Pepsi paid less than $200 million. The acquisition is the latest by a U.S. food major looking to tap into rising demand from health conscious consumers for snacks that have low salt content and are less processed. A trend that has helped power a 20 percent jump in sales of sweet biscuit, snack bars and fruit snacks to $10 billion over the past five years in North America, according
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