PepsiCo to acquire full ownership of Sabra and Obela

seekingalpha11-22 17:42

Parradee Kietsirikul PepsiCo (NASDAQ:PEP) will acquire the outstanding 50% stake in Sabra Dipping Company (Sabra) and PepsiCo-Strauss Fresh Dips & Spreads International (Obela), giving the company ...

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The additional terms of the deal were not disclosed. The development will help PepsiCo transform its portfolio and innovate more products to meet consumer demand in North America.  PepsiCo and Strauss Group have formed two 50/50 joint ventures - Sabra and Obela - to manufacture, distribute, and sell refrigerated dips and spreads. Sabra, based in New York, operates in the U.S. and Canada and has grown to become a leading hummus brand with nearly $400M in retail sales. Obela, based in Geneva, operates in Australia, New Zealand, and Mexico. 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