PepsiCo, Inc. (NASDAQ: PEP) announced that it closed the acquisition of Garza Food Ventures LLC, (dba Siete Foods), for $1.2 billion. The deal was announced in October last year.

PepsiCo said it continues to expand better-for-you products for consumers by reducing salt, sugar, and saturated fat from brands through reformulation and acquisition.

“We’re committed to transforming our portfolio to include more positive choices that meet consumer demand for convenient and delicious products,” said Steven Williams, CEO of PepsiCo North America. “We love the Siete brand for the same reason so many loyal consumers do and are dedicated to preserving its special attributes while making the brand more widely available and accessible on a broader scale.” 

Siete started with a single almond flour tortilla sold in an Austin co-op. Today, the Siete Foods portfolio spans a variety of products at more than 40,000 retailers.  

“Today marks a defining moment in Siete’s journey and an exciting chapter of growth and expansion for our brand,” said Miguel Garza, CEO and co-founder of Siete Foods. “When our family founded Siete 10 years ago, it was with a heartfelt mission: to share the beauty of our Mexican-American heritage and Latino culture with the world, creating foods that everyone can enjoy, love, and feel connected to. The overwhelming support and passion we’ve seen — from the love for our products to the celebration of this milestone for Latino entrepreneurship — have profoundly inspired us. As we join PepsiCo, my family and I are committed to honoring, amplifying, and continuing to build the Siete brand and welcoming even more people to join us at the table.”