The Austin-based Mexican-American logo is being bought via a big company.
AUSTIN, Texas — A well-liked meals and beverage company is getting ready to take over an Austin-based meals logo.
On Tuesday, PepsiCo introduced a $1.2 billion settlement to buy Siete Meals, a Mexican-American logo that sells chips, tortillas, sauces and extra.
The deal is predicted to be formally licensed within the first a part of subsequent 12 months, with restricted specifics to be had at the moment.
“PepsiCo believes within the spirit and authenticity of the Siete logo, and we are excited to hold at the legacy created via the Garza circle of relatives,” PepsiCo chairman and CEO Ramon Laguarta stated.
“We stay up for increasing our multicultural portfolio with those unbelievable merchandise and much more shoppers finding and playing Siete.”
The historical past of Siete Meals
Siete, or Garza Meals Ventures LLC, used to be created ten years in the past in South Texas via co-founder Veronica Garza.
As a teen, Garza used to be recognized with a couple of autoimmune sicknesses, together with lupus. With a purpose to fight her well being struggles, she labored along her mom to supply distinctive recipes, in the end crafting an almond flour-based tortilla.
“I sought after to devour tacos on one thing instead of a work of lettuce,” Garza informed KVUE final 12 months. “I need to make enchiladas. I need to, you understand, be capable of revel in all of those meals.”
Ten years later, the thriving industry provides all kinds of wholesome merchandise, together with grain-free Fuego potato chips, Cassava flour tortillas and Tangy Conventional sauce.
“It is truly vital for us that individuals are ready to devour and revel in Mexican-American meals with out feeling like they are compromising,” Garza stated.
Kind of 4 years in the past, the Siete Juntos Fund, or the In combination Fund, used to be created to offer $200,000 for brand spanking new and increasing Latino corporations.
Siete’s production website is recently in Austin, regardless that it is unsure if this may increasingly exchange.
“We are hoping this subsequent bankruptcy for Siete serves as inspiration for different Latino companies, appearing that it is imaginable to construct a thriving logo that honors our heritage and celebrates our tradition,” co-founder and CEO Miguel Garza stated.
Siete sells its merchandise no longer simply in Texas, however right through portions of the USA.
