PepsiCo to acquire full ownership of Sabra and Obela
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Contributor since / Followers
Contributor since / Followers
15 hours ago
Parradee Kietsirikul
- PepsiCo (NASDAQ:PEP) will acquire the outstanding 50% stake in Sabra Dipping Company (Sabra) and PepsiCo-Strauss Fresh Dips & Spreads International (Obela), giving the company full ownership of both companies.
- The additional terms of the deal were not disclosed.
- The development will help PepsiCo transform its portfolio and innovate more products to meet consumer demand in North America.
- PepsiCo and Strauss Group have formed two 50/50 joint ventures – Sabra and Obela – to manufacture, distribute, and sell refrigerated dips and spreads. Sabra, based in New York, operates in the U.S. and Canada and has grown to become a leading hummus brand with nearly $400M in retail sales. Obela, based in Geneva, operates in Australia, New Zealand, and Mexico.
- The transactions are expected to close by the end of 2024.