PepsiCo to acquire US firm Bare Snacks

US-based food and beverage company PepsiCo has signed an agreement to acquire baked fruit and vegetable snacks manufacturer Bare Foods, which is doing business as Bare Snacks, for an undisclosed price.

The acquisition is expected to expand PepsiCo’s snacking portfolio, in addition to helping the company deliver on its ‘Performance with Purpose’ vision that aims to offer positive nutrition options to its consumers.

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 organisation and a strong brand with authentic roots, and I couldn’t be more excited to welcome Bare Snacks to the PepsiCo family.”

US-based Bare Snacks was originally established in 2001 and is primarily engaged in the production of chips using fruits such as apple, banana and coconuts.

The company has also recently added vegetable chips to its product offering and is said to provide the industry’s broadest assortment of baked crunchy fruit and vegetable chips.

Bare Snacks claims that all its products are Non-GMO Project-verified and produced using simple ingredients.

The company’s products are currently available to purchase online, as well as across all natural and conventional retail channels across the US.

Bare Foods CEO Santosh Padki said: “We are thrilled to work with the PepsiCo team to further our mission of bringing simplicity to snacking.

“With a shared passion for crunchy, better-for-you snacks, PepsiCo is the right partner to help bring our simply baked fruit and vegetable snacks to even more consumers across the world and continue to grow our brand.”

Bare Snacks will continue to operate independently from its headquarters located in San Francisco upon the deal’s completion.