Last month, Pepsi reported refreshing results for its first quarter beating Street’s view. USA - PepsiCo, Inc. has announced it has entered into a definitive agreement to acquire Bare Snacks, a U.S.-based maker of baked fruit and vegetable snacks. Have a question or comment for us? Today’s young consumers are looking for new and interesting flavors, and are not necessarily loyal to a particular brand. According to market research firm IRI, sales in snacking rose to $89 billion in 2016, posting an annual growth rate of 3%. Subscribe to Food Dive to get the must-read news & insights in your inbox. Senior Marketing Manager, Bare Snacks PepsiCo. Kellogg bought the owner of RXBar protein bars for $600 million last year, and Hershey announced plans to take over Amplify Snack Brands, maker of SkinnyPop popcorn. The focus on snacks does not come without risks for food companies. “The Bare Snacks' leadership team has done an outstanding job building a top-tier organization and a strong brand with authentic roots,” Nooyi said. Pineapple Chips & Coconut Chips - ID 11281. PepsiCo is donating bundles to up to 500 hospital emergency rooms nationwide to help thank essential workers for their service during the COVID-19 crisis. Total revenue decreased 1% year-over-year to $983.7 million. What Should Retailers & Brands Consider When Planning for 2021? Last week, the food and beverage giant has announced its acquisition of a San Francisco-based startup brand called Bare Foods, maker of baked fruit and vegetable snacks for $200M. About a month ago, the snacks maker’s CEO Santosh Padki said in an interview that some famous consumer packaged goods companies have approached the firm for a potential acquisition. Purchase, New York-based PepsiCo did not make the financial terms of the agreement public. By doing so, the company has expanded its Frito-Lay division’s “Better for You” snack offerings. The chairman and chief executive officer of PepsiCo believes that PepsiCo has been committed to Performance with Purpose, a vision of making more nutritious products, while reducing the added sugars, salt, and saturated fat and Bare Snacks seemed like the ultimate fit. PepsiCo (NYSE: PEP) announced that it has entered into an agreement to acquire Bare Foods Co., maker of baked fruit and vegetable snacks. PepsiCo has entered into an agreement to acquire Bare Foods Co., a maker of baked fruit and vegetable snacks. The transaction will expand Pepsi's snacking portfolio and further deliver on its "Performance with Purpose" vision to offer consumers more positive nutrition options, while also reducing added sugars, salt, and saturated fat. PepsiCo Inc. reported a stronger-than-expected spring as homebound consumers looking for comfort stocked up on snack foods -- and its current-quarter forecast was even more bullish. Bare Foods Co. (doing business as Bare Snacks) was founded in 2001 by a family-owned organic apple farm in Washington, that began selling packaged baked apple chips in local farmers' markets. When the transaction is sealed, Bare Foods will be reporting to Frito-Lay North America division and will continue to function independently from San Francisco. Under its … PepsiCo Inc. is buying a healthy snack company that will be overseen by its subsidiary Frito-Lay. But as larger companies continue to gobble up smaller snack makers, only time will tell which snacks will stick and which will end up as momentary fads. "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." May 17 – May 20, 2021, sales in snacking rose to $89 billion in 2016, growth has occured in all snacking categories, spent about $5 billion to acquire Snyder’s-Lance, bought the owner of RXBar protein bars for $600 million, PepsiCo announces definitive agreement to acquire Bare Snacks, expanding better-for-you portfolio into baked fruit and vegetable snacks, By the numbers: Examining the cost of the pandemic on the meat industry, 2020's 10 biggest M&A deals in the food and beverage industry, FDA approves GMO pork, but there's no determination if it's safe for those with allergies to eat, Frozen food sales soar with homebound consumers during pandemic, Eat Beyond aims to change the way people invest in protein alternatives, Optimizing Food & Beverage Plant Manufacturing During a Time of Disruption. "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." The free newsletter covering the top industry headlines, By signing up to receive our newsletter, you agree to our. This trend has food companies looking to gain a foothold or a increase their footprint in the snack and convenience niche. As schedules become increasingly busy and consumers continue to look for healthful food options, it seems brands such as Bare Snacks are on the cusp of something big. Purchase, N.Y.-based PepsiCo is a global food and beverage leader with a portfolio of more than 22 brands that generate more than $1 billion each in annual retail sales. Apple Chips & Strawberry Chips - ID 11280. The addition of Bare Snacks will further expand PepsiCo’s portfolio of healthy and better-for-you snacks. Is Facebook's (FB) dominance in social media coming to an end? In December, Campbell Soup spent about $5 billion to acquire Snyder’s-Lance, which makes brands such as Pop Secret, Kettle, Cape Cod and Emerald. Marketing Manager, Ruffles Brand PepsiCo. Bare Snacks, which started its operations in 2001 as a family-owned business, makes organic snacks with real fruits and veggies which are gluten-free. Bare Snacks was founded in 2001 by a family-owned organic apple farm in Washington. 28 May, 2018. The addition of Bare Snacks will further expand PepsiCo’s portfolio of healthy and better-for-you snacks. Over the last eight months, some of the largest companies have spent millions to deal with the coronavirus and seen thousands of workers get infected, while meat supply and pricing fluctuate. Food and beverage giant PepsiCo recently announced plans to acquire Bare Foods, which makes baked fruit and vegetable snacks, for an undisclosed price, according to a … For more than a dozen years, PepsiCo has worked to make more healthful products while reducing added sugars, salt and saturated fat, and Bare Snacks “fits perfectly within that vision,” PepsiCo CEO Indra Nooyi said in the news release. When the market closed today, the stock inched up 0.13% to $100.31. For the most part of the year, the company posted strong revenue and user growth benefiting from increased, Paychex Inc. (NASDAQ: PAYX) reported its second quarter 2021 earnings results today. By doing so, the company has expanded its Frito-Lay division's "Better for You" snack offerings. Pepsi’s CEO Indra Nooyi commented that Bare Snacks fits the company’s vision of creating more nutritious products. Case in point is PepsiCo’s recent purchase of snack manufacturer Bare Foods Co. to help bolster Pepsi’s health snack offerings. Food and beverage giant PepsiCo recently announced plans to acquire Bare Foods, which makes baked fruit and vegetable snacks, for an undisclosed price. Plant-based is the hottest trend in food today, and many companies are getting into the space as consumers become more interested in the health halo the products provide. Net income rose 5% to $272.4 million while EPS rose, © 2020 AlphaStreet Inc. All Rights Reserved. Bare Snacks fits perfectly within that vision," said Indra Nooyi, chairman and chief executive officer of PepsiCo. All of Bare Snacks' products are gluten-free, Non-GMO Project verified, kosher, vegan and free of refined sugar, preservatives, cholesterol and trans fats. Submit News. The Coca Cola’s rival didn’t acquire any company after it purchased the beverage company KeVita for an undisclosed sum in November 2016. Under its current leadership team, it has expanded steadily to become the leader in apple, banana and coconut snacks. Topics covered: manufacturing, packaging, new products, R&D, and much more. Healthy snacks are an emerging market, and Bare has shown it can create products people want. Bare Snacks makes crave-ably crunchy fruit and veggie chips that are baked never fried, gluten free, non GMO, with no preservatives or anything artificial. The stock plunged 16% year-to-date and dipped 15% in the past one year. Still, the purchase of Bare Snacks seems to hit many right notes for PepsiCo. Neither Bare Snacks nor any other party involved in creating, producing, or delivering the Platform is liable for any direct, incidental, consequential, indirect, or punitive damages arising out of your access to or use of the Platform. Attorneys weigh in: What legal issues should food & beverage companies watch in 2021? The move comes at a time when consumers are looking for nutritious options, and the snacking trend isn’t slowing down any time soon. PepsiCo claimed that under its current leadership team, the brand has expanded steadily to become the leader in apple, banana and coconut snacks. Want to share a company announcement with your peers? Shop Now. Press release from Ajinomoto Health & Nutrition North America Inc. • Senior Brand Manager - Frito-Lay Variety Pack PepsiCo. Apr 2019 – Present 1 year 6 months. Earnings calendar for the week of December 28, Pinterest appears well-positioned to benefit from positive trends going into 2021, Paychex (PAYX) Earnings: 2Q21 Key Numbers. We deliver your favorite snacks & beverages straight to your door. As FONA International reported last year, more than 80% of consumers snack every day, and about one in four noshes between meals to treat herself. Bare Snacks was acquired by PepsiCo earlier this year, as part of PepsiCo’s strategy to grow its snack business in light of falling soda sales. The transaction will expand the company's snacking portfolio and further deliver on its Performance with Purpose vision to offer consumers more positive nutrition options. How COVID-19 is Testing and Strengthening Food Industry Supply Chains, Crisp Announces the First Programmatic Commerce Platform for Food Brands and Retailers, New Ajinomoto Campaign Challenges Assumptions About Monosodium Glutamate (MSG), Yogurt Maker Chobani Recruits New CFO as It Continues to Expand. Plano, Texas, United States. Apple Chips & Strawberry Chips - ID 11278. Bare Snacks will continue to operate independently at its San Francisco headquarters under the direction of Frito-Lay North America. However, the New York-based beverage company’s shares reached its 52-week low ($95.94) on May 9. The brand positioning of Bare Snacks is also in line with the PepsiCo’s “Performance with Purpose,” the US food giant’s vision of making more nutritious products by reducing added sugars, salt and saturated fat, according to Indra Nooyi, chairman and CEO of PepsiCo. PepsiCo Inc. said Friday it is buying Bare Foods Co., a maker of fruit and vegetable snacks, as the global food and beverage company looks to expand its offerings of healthier fare. Plano, TX. Bundles of Giving. Director, Sales Strategy - Bare Snacks PepsiCo. “The Bare Snacks leadership team has done an outstanding job building a top-tier organisation and a strong brand with authentic roots, and I could not be more excited to welcome the snack company to the PepsiCo family,” said Indra Nooyi, Chairman and Chief Executive Officer of PepsiCo. Apr 2020 – Present 7 months. Bare Snacks fits perfectly within that vision,” added Indra Nooyi, chairman and CEO of PepsiCo. Oct 2018 – Apr 2020 1 year 7 months. Pandey comes from Frito-Lay (a PepsiCo company) in the United States where she has spent the last 11 years in roles that span across marketing, corporate strategy, insights and media. PepsiCo will be looking forward to providing some healthy and tasty snacks for the consumers. Bare Snacks was founded in 2001 by a family-owned organic apple farm in Washington that started selling baked apple chips in order to extend its selling season. Bare Snacks has been in business for nearly two decades and has a proven track record that should appeal to PepsiCo investors, although no one can predict how well the snacks will scale to global customers. Food and beverage giant PepsiCo (PEP) gobbles up San Francisco-based fruit and vegetable chips maker Bare Snacks for an unrevealed amount. Pineapple Chips & Coconut Chips - ID 11279. Founded in 2001, San Francisco-based Bare Snacks offers a portfolio of apple chips, banana chips, coconut chips and recently added beet chips, carrot chips and sweet potato chips. According to a report from Euromonitor, Frito-Lay has maintained its leading position in savory snacks in 2017 with a value share of 39%. Save time & keep your pantry stocked with all the good stuff. Nielsen found growth has occured in all snacking categories from 2013 to 2016 — led by bars, jerky and cookies/crackers. Bare Snacks creates chips from apples, bananas, coconuts, carrots and sweet potatoes. PepsiCo said Friday it is buying Bare Foods Co, a producer of fruit and vegetable-based snacks. TUTTOFOOD Milano, Where Excellence Meets Innovation in Food & Beverage, What you need to know about e-commerce in food and grocery, Peaking inside the pod: A deep look inside Peapod's grocery delivery business, Earth to the meatpacking industry: 2021 is coming up, exit the time capsule, 5 questions to ask before adopting a coronavirus vaccine policy, Proposal would move GMO food animal regulation to USDA, Food workers should be among the next in line for the vaccine, CDC panel says, Consumer eating and drinking habits during pandemic reflect different needs. When the transaction is sealed, Bare Foods will be reporting to Frito-Lay North America division and will continue to function independently from San Francisco. 28 May 2018 --- PepsiCo, Inc. has entered into a definitive agreement to acquire Bare Foods Co. (doing business as Bare Snacks), a US-based maker of baked fruit and vegetable snacks. 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