USA: PepsiCo to acquire full ownership of Sabra and Obela

FMCG giant PepsiCo has reached an agreement to acquire the remaining 50% of Safra  and Obela and take full ownership of both companies.

PepsiCo said the move would allow it to accelerate innovation in fresh dips and spreads to meet growing consumer demand.

Created between 2008 and 2012, Sabra and Obela are 50/50 joint ventures between PepsiCo and Strass Group to manufacture, distribute and sell refrigerated dips and spreads. Obela is based in Geneva operating in Australia, New Zealand and Mexico, while Safra is base in New York operating in the USA and Canada.

Steven Williams, chief executive officer of PepsiCo Foods North America, commented: “Nutritious, simple foods like refrigerated dips and spreads represent a space we have long desired to expand in the U.S. and Canada. We are grateful to the Strauss Group for our long and successful partnership and look forward to this next chapter for the Sabra and Obela brands, as well as the PepsiCo food portfolio”.

The transactions are expected to close by the end of 2024. Financial details were not disclosed.

Source: PepsiCo