Food and beverage giant PepsiCo recently announced plans to acquire Bare Foods, which makes baked fruit and vegetable snacks, for an undisclosed price, according to a … Purchase, New York-based PepsiCo did not make the financial terms of the agreement public. "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." Founded in 2001, San Francisco-based Bare Snacks offers a portfolio of apple chips, banana chips, coconut chips and recently added beet chips, carrot chips and sweet potato chips. By doing so, the company has expanded its Frito-Lay division's "Better for You" snack offerings. The brand positioning of Bare Snacks is also in line with the PepsiCo’s “Performance with Purpose,” the US food giant’s vision of making more nutritious products by reducing added sugars, salt and saturated fat, according to Indra Nooyi, chairman and CEO of PepsiCo. Reports of mutant versions of coronavirus spreading in Europe and resurgence of infections across the world have dampened market sentiment, at a time when the economy seemed to be limping, Pinterest Inc. (NYSE: PINS) has seen its stock gain 298% in 2020. However, the New York-based beverage company’s shares reached its 52-week low ($95.94) on May 9. The addition of Bare Snacks will further expand PepsiCo’s portfolio of healthy and better-for-you snacks. Under its … We deliver your favorite snacks & beverages straight to your door. By doing so, the company has expanded its Frito-Lay division’s “Better for You” snack offerings. Shop Now. Bare Snacks will continue to operate independently at its San Francisco headquarters under the direction of Frito-Lay North America. 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. Senior Brand Manager - Frito-Lay Variety Pack PepsiCo. PepsiCo said Friday it is buying Bare Foods Co, a producer of fruit and vegetable-based snacks. Bare Snacks assumes no liability or responsibility for any errors or omissions in the content of the Platform. “The Bare Snacks leadership team has done an outstanding job building a top-tier organisation and a strong brand with authentic roots, and I could not be more excited to welcome the snack company to the PepsiCo family,” said Indra Nooyi, Chairman and Chief Executive Officer of PepsiCo. The stock plunged 16% year-to-date and dipped 15% in the past one year. But as larger companies continue to gobble up smaller snack makers, only time will tell which snacks will stick and which will end up as momentary fads. PepsiCo is donating bundles to up to 500 hospital emergency rooms nationwide to help thank essential workers for their service during the COVID-19 crisis. Food and beverage giant PepsiCo recently announced plans to acquire Bare Foods, which makes baked fruit and vegetable snacks, for an undisclosed price. When the transaction is sealed, Bare Foods will be reporting to Frito-Lay North America division and will continue to function independently from San Francisco. May 17 – May 20, 2021, sales in snacking rose to $89 billion in 2016, growth has occured in all snacking categories, spent about $5 billion to acquire Snyder’s-Lance, bought the owner of RXBar protein bars for $600 million, PepsiCo announces definitive agreement to acquire Bare Snacks, expanding better-for-you portfolio into baked fruit and vegetable snacks, By the numbers: Examining the cost of the pandemic on the meat industry, 2020's 10 biggest M&A deals in the food and beverage industry, FDA approves GMO pork, but there's no determination if it's safe for those with allergies to eat, Frozen food sales soar with homebound consumers during pandemic, Eat Beyond aims to change the way people invest in protein alternatives, Optimizing Food & Beverage Plant Manufacturing During a Time of Disruption. Plano, TX. Senior Marketing Manager, Bare Snacks PepsiCo. The free newsletter covering the top industry headlines, By signing up to receive our newsletter, you agree to our. Save time & keep your pantry stocked with all the good stuff. Subscribe to Food Dive to get the must-read news & insights in your inbox. The move comes at a time when consumers are looking for nutritious options, and the snacking trend isn’t slowing down any time soon. Apple Chips & Strawberry Chips - ID 11280. In December, Campbell Soup spent about $5 billion to acquire Snyder’s-Lance, which makes brands such as Pop Secret, Kettle, Cape Cod and Emerald. Apr 2020 – Present 7 months. Bare Foods Co. (doing business as 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. PepsiCo will be looking forward to providing some healthy and tasty snacks for the consumers. Bare Snacks fits perfectly within that vision,” added Indra Nooyi, chairman and CEO of PepsiCo. Bare Snacks was founded in 2001 by a family-owned organic apple farm in Washington. Food and beverage giant PepsiCo (PEP) has gobbled up San Francisco-based fruit and vegetable chips maker Bare Snacks for an unrevealed amount. Bare Snacks was founded in 2001 by a family-owned organic apple farm in Washington that started selling baked apple chips in order to extend its selling season. Pepsi’s CEO Indra Nooyi commented that Bare Snacks fits the company’s vision of creating more nutritious products. According to a report from Euromonitor, Frito-Lay has maintained its leading position in savory snacks in 2017 with a value share of 39%. Submit News. Want to share a company announcement with your peers? Case in point is PepsiCo’s recent purchase of snack manufacturer Bare Foods Co. to help bolster Pepsi’s health snack offerings. Bare Snacks has been in business for nearly two decades and has a proven track record that should appeal to PepsiCo investors, although no one can predict how well the snacks will scale to global customers. When the transaction is sealed, Bare Foods will be reporting to Frito-Lay North America division and will continue to function independently from San Francisco. How COVID-19 is Testing and Strengthening Food Industry Supply Chains, Crisp Announces the First Programmatic Commerce Platform for Food Brands and Retailers, New Ajinomoto Campaign Challenges Assumptions About Monosodium Glutamate (MSG), Yogurt Maker Chobani Recruits New CFO as It Continues to Expand. Neither Bare Snacks nor any other party involved in creating, producing, or delivering the Platform is liable for any direct, incidental, consequential, indirect, or punitive damages arising out of your access to or use of the Platform. Bundles of Giving. For more than a dozen years, PepsiCo has worked to make more healthful products while reducing added sugars, salt and saturated fat, and Bare Snacks “fits perfectly within that vision,” PepsiCo CEO Indra Nooyi said in the news release. Healthy snacks are an emerging market, and Bare has shown it can create products people want. Is Facebook's (FB) dominance in social media coming to an end? Attorneys weigh in: What legal issues should food & beverage companies watch in 2021? PepsiCo claimed that under its current leadership team, the brand has expanded steadily to become the leader in apple, banana and coconut snacks. The addition of Bare Snacks will further expand PepsiCo’s portfolio of healthy and better-for-you snacks. Director, Sales Strategy - Bare Snacks PepsiCo. Last week, the food and beverage giant has announced its acquisition of a San Francisco-based startup brand called Bare Foods, maker of baked fruit and vegetable snacks for $200M. According to market research firm IRI, sales in snacking rose to $89 billion in 2016, posting an annual growth rate of 3%. PepsiCo (NYSE: PEP) announced that it has entered into an agreement to acquire Bare Foods Co., maker of baked fruit and vegetable snacks. Bare Snacks, which started its operations in 2001 as a family-owned business, makes organic snacks with real fruits and veggies which are gluten-free. PepsiCo Inc. said Friday it is buying Bare Foods Co., a maker of fruit and vegetable snacks, as the global food and beverage company looks to expand its offerings of healthier fare. The Coca Cola’s rival didn’t acquire any company after it purchased the beverage company KeVita for an undisclosed sum in November 2016. All of Bare Snacks' products are gluten-free, Non-GMO Project verified, kosher, vegan and free of refined sugar, preservatives, cholesterol and trans fats. $ 2.5 billion by 2022 and coconut Snacks Snacks fits perfectly within that,. For the consumers into an agreement to acquire Bare Foods Co. to help Pepsi. Hospital emergency rooms nationwide to help thank essential workers for their service during the COVID-19 crisis healthful.... Topics covered: manufacturing, packaging, New York-based beverage company ’ vision. 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