PepsiCo Expanding Healthy Snacks Line By Acquiring Bare Snacks
Frito-Lay, a subsidiary of PepsiCo, is about to expand its line of “better-for-you” snack offerings as PepsiCo enters into a definitive agreement to acquire Bare Foods Co. Recognized for its range of delicious and healthy snacks, Bare Foods Co. is commonly known as Bare Snacks. The contract will expand the PepsiCo’s snacking portfolio and promote its Performance with Purpose vision – offer customers more positive nutrition choices.
Indra Nooyi, Chief Executive Officer and Chairman of PepsiCo said that the company had been committed to the vision for years. Their concept is to manufacture more nutritious products, while also reducing added sugars, salt, and saturated fat.
Bare Snacks fits perfectly within that vision. Nooyi also noted that the Bare Snacks leadership team had done a great job building a top-notch organization and a strong brand with authentic roots, and she also expressed her enthusiasm with welcoming Bare Snacks into the PepsiCo family.
PepsiCo is known for its line of billion-dollar brands like Lay’s, Ruffles, Cheetos, Doritos, and Tostitos. Bare Snacks’ products might be the next billion-dollar line of snacks.
The brand was established in 2001 by a family-owned organic apple farm in Washington. The healthy snack company began selling packaged baked apple chips in local farmers’ markets.
The company has expanded to become the leader in apple, banana and coconut snacks and has recently branched out into vegetable chips and offers the industry’s broadest assortment of crunchy baked fruit and vegetable chips.
Bare Snacks’ line of products comes from simple, baked ingredients, which is the company’s edge versus other company’s fried goods. The snacks are guaranteed to be Non-GMO Project verified and have clean feature labels. The products are sold online in both natural and conventional retail channels across the United States.
Bare Snacks will continue to operate independently in its San Francisco Headquarters with its management reporting into Frito-Lay North America. Santosh Padki, CEO of Bare Foods said that they are thrilled to work with the PepsiCo team to further their mission of bringing simplicity to snacking.
Bare Foods Co and PepsiCo share a passion for crunchy, better-for-you snacks and is the best partner to help bring their baked fruit and vegetable snacks to more consumers worldwide.
PepsiCo produced more than $63 billion in net revenue last 2017, with their extension in their new healthy snacks line, the company can cater to a broader set of consumers. It promises more significant revenue for the company for years to come.