PepsiCo Bares All in Snacks Buy
PepsiCo announced plans to acquire Bare Foods Co., a U.S. manufacturer of baked fruit and vegetable snacks. The move expands both the company's snacking portfolio and its "Performance with Purpose" efforts to offer more positive nutrition options.
“For nearly a dozen years, PepsiCo has been committed to Performance with Purpose. Bare Snacks fits perfectly within that vision," said Indra Nooyi, PepsiCo's chief executive officer. "The Bare Snacks leadership team has done an outstanding job building a top-tier organization and a strong brand with authentic roots."
Founded in 2001 by a family-owned organic apple farm in Washington, Bare Snacks began selling packaged baked apple chips in local farmers' markets. Under the current leadership team, the company has expanded to become a leader in apple, banana and coconut snacks and recently expanded into vegetable chips.
Products are made from simple ingredients that are baked (not fried), are Non-GMO Project verified and feature clean labels. They currently are sold online and through natural and conventional retail channels across the U.S.
"We are thrilled to work with the PepsiCo team to further our mission of bringing simplicity to snacking," said Santosh Padki, CEO of Bare Foods. "PepsiCo is the right partner to help bring our simply baked fruit and vegetable snacks to even more consumers across the world and continue to grow our brand."
Bare Snacks will continue to operate independently from its headquarters in San Francisco, with its leadership reporting into Frito-Lay North America.
"We look forward to working with the Bare Snacks team to deliver new, innovative options, and ultimately expand distribution, to meet the ever-growing consumer demands for authentic and nutritious snacks," said Vivek Sankaran, Frito-Lay's president.