PURCHASE, N.Y. -- PepsiCo has reached an agreement to acquire healthy-snack company Bare Foods Co., better known as Bare Snacks, for an undisclosed amount.
San Francisco-based Bare Snacks produces fruit and vegetable chips in various flavors such as apple, banana, coconut, beet, carrot and sweet potato. The company's products carry a healthy halo that appeals to consumers today.
Bare Snacks will continue its independent operations with its leadership reporting to PepsiCo’s Plano, Texas-based Frito-Lay North America division, according to the agreement.
"Bare premium baked fruit and vegetable chips are an exciting expansion of Frito-Lay's better-for-you snack offerings," said Vivek Sankaran, president and COO of Frito-Lay North America. "While we will continue to offer the current Bare Snacks product line, we look forward to working with the Bare Snacks team to deliver new, innovative options and ultimately expanded distribution to meet the ever-growing consumer demands for authentic and nutritious snacks."
The acquisition expands PepsiCo’s snacking portfolio and enhances its Performance With Purpose initiative, which aims to make nutritious products with reduced sugars, sodium and saturated fats, according to Indra Nooyi, chairman and CEO 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.
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. Besides Frito-Lay North America, its main businesses are Pepsi, Quaker, Tropicana and Gatorade.