Purchase, NY – PepsiCo will expand its “better for you” snack portfolio with the acquisition of Bare Foods, which makes baked fruit and vegetable snacks and will continue to operate independently from San Francisco. Terms were not disclosed.
In announcing the deal recently, PepsiCo said since 2006, the percentage of revenue derived from healthier food and beverages has grown from 38% to 50%.
Bare Snacks products include salt-and-vinegar beet chips and Granny Smith apple chips. It was founded in 2001 by a family-owned organic apple farm in Washington.
“The Bare Snacks’ leadership team has done an outstanding job building a top-tier organization and a strong brand with authentic roots,” said PepsiCo CEO Indra Nooyi, who said in a statement the acquisition “fits perfectly” with the vision to introduce products with reduced sugars, salt and saturated fat in keeping with consumer demand.
Bare Snacks are sold in Whole Foods Market, Target and soon Walmart, according to CEO Santosh Padki.