PepsiCo to Take Full Control of Sabra and Obela in Strategic Expansion Move

GuruFocus11-22 23:03

From its joint venture partner, Strauss Group, PepsiCo (PEP, Financial) revealed intentions to buy the remaining 50% ownership in Sabra Dipping Company, LLC, and PepsiCo-Strauss Fresh Dips & Spreads ...

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The action will make PepsiCo the exclusive proprietor of Sabra and Obela, brands focused on chilled dips and spreads. Leading the U.S. hummus market with $400 million in retail sales, Sabra was co-founded by PepsiCo and Strauss over 15 years ago. The purchase fits PepsiCo's plan to broaden its food line and meet growing consumer demand for quick, reasonably priced solutions. The company said that basic, healthy goods like refrigerated dips and spreads in the U.S. and Canadian markets show room for expansion. \"As we evolve our food portfolio, our aim is to meet the growing demand for positive choices and on-the-go options,\" PepsiCo CEO Steven Williams said, stressing the value of the acquisition. With customary regulatory clearances and closing criteria, the tra","collect":0,"end_time":0,"defaultTopTitle":"gurufocus.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PEP":"百事可乐"},"translate_title":"百事公司将在战略扩张中完全控制Sabra和Obela","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PEP":1},"content_text":"From its joint venture partner, Strauss Group, PepsiCo (PEP, Financial) revealed intentions to buy the remaining 50% ownership in Sabra Dipping Company, LLC, and PepsiCo-Strauss Fresh Dips & Spreads International GmbH for an undisclosed amount. The action will make PepsiCo the exclusive proprietor of Sabra and Obela, brands focused on chilled dips and spreads. Leading the U.S. hummus market with $400 million in retail sales, Sabra was co-founded by PepsiCo and Strauss over 15 years ago. The purchase fits PepsiCo's plan to broaden its food line and meet growing consumer demand for quick, reasonably priced solutions. 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