Food and drinks giant PepsiCo has announced a definitive agreement to acquire Bare Foods, a producer of baked fruit and vegetable snacks under the Bare Snacks brand.
Bare Foods Co was founded in 2001 and is described as a leader in apple, banana and coconut snacks. Its product range, including beetroot, carrot and sweet potato crisps, is sold across the USA and is said to use real, whole-food ingredients, to be baked rather than fried and to be free from genetic modification.
Once the deal is complete, Bare Snacks will continue to operate independently, reporting into PepsiCo’s Frito-Lay North America division.
Commenting on the deal, PepsiCo chairman and chief executive officer 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 organization and a strong brand with authentic roots, and I couldn’t be more excited to welcome Bare Snacks to the PepsiCo family”.
Bare Foods CEO Santosh Padki added: “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”.