Amazon Gobbles Up Whole Foods Market for $13.7 Billion

PepsiCo Expands Better-For-You Portfolio with Bare Snacks Acquisition

On May 25, PepsiCo announced it has entered an agreement to acquire Bare Snacks, a maker of baked fruit and vegetable snacks for an undisclosed amount. The deal will expand Pepsi’s better-for-you snacking portfolio and further deliver on its Performance with Purpose vision to offer consumers more positive nutrition options.

Upon completion of the deal, Bare Snacks will continue to operate independently from its headquarters in San Francisco with its leadership reporting into Frito-Lay North America, a division of PepsiCo.

Bare Snacks was founded in 2001 by a family-owned organic apple farm in Washington, that began selling packaged baked apple chips in local farmers’ markets. Under its current leadership team, it has expanded steadily to become the leader in apple, banana and coconut snacks. It has recently expanded into vegetable chips and offers the industry’s broadest assortment of baked crunchy fruit and vegetable chips. Bare products are made from simple ingredients that are baked, not fried.  They are Non-GMO Project verified, feature clean labels and are sold online and in natural and conventional retail channels across the United States.

“Bare premium baked fruit and vegetable chips are an exciting expansion of Frito-Lay’s better-for-you snack offerings,” said Vivek Sankaran, president and chief operating officer for Frito-Lay North America. “While we will continue to offer the current Bare Snacks product line, we look forward to working with the Bare Snacks team to deliver new, innovative options, and ultimately expanded distribution, to meet the ever-growing consumer demands for authentic and nutritious snacks.”

Commenting on the deal, PepsiCo Chairman and CEO Indra Nooyi, said: “For nearly a dozen years, PepsiCo has been committed to Performance with Purpose, our vision of making more nutritious products, while also reducing added sugars, salt, and saturated fat. Bare Snacks fits perfectly within that vision. The Bare Snacks leadership team has done an outstanding job building a top-tier organization and a strong brand with authentic roots, and I couldn’t be more excited to welcome Bare Snacks to the PepsiCo family.”

TAGS: General Snacks
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