PepsiCo Takes Full Ownership of Sabra, Obela Brands

Dow Jones11-22 19:39

By Dean Seal

PepsiCo has agreed to take full ownership of the Sabra and Obela dip and spread brands from Israeli foodmaker Strauss Group for an undisclosed amount.

The beverage and snack maker said Friday that it would acquire Strauss Group's 50% interest in Sabra Dipping Company and PepsiCo-Strauss Fresh Dips & Spreads International GmbH, better known as Obela.

Pepsico and Strauss Group formed Sabra as a 50-50 joint venture in 2008, and did the same for Obela in 2012.

The transaction is expected to close by the end of the year.

PepsiCo said the deal is part of an effort to develop its health-conscious products for North American consumers.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

November 22, 2024 06:39 ET (11:39 GMT)

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