The makers of Pepsi Cola agreed to pay $1.2 billion to obtain Garza Food Ventures dba Siete Family Foods, PepsiCo announced Tuesday.

PepsiCo (NASDAQ:PEP) confirmed on Tuesday that it struck a deal Siete for $1.2 billion. Siete Foods was founded in 2014 by Veronica Garza and her family in Austin, Texas. The company specializes in grain-free and dairy-free Mexican-American foods.

The Siete Foods company, founded in Austin by a Laredo family, is selling to PepsiCo for $1.2 billion. It is known for its grain-free tortillas, chips and more.

The makers of Pepsi Cola agreed to pay $1.2 billion to obtain Garza Food Ventures dba Siete Family Foods, PepsiCo announced Tuesday.

It’s a big day for Siete Family Foods. PepsiCo has agreed to acquire the Austin-based packaged food company for $1.2 billion. Launched in 2014 by seven (siete) members of the Ga

"We look forward to expanding our multicultural portfolio with these incredible products and even more consumers discovering and enjoying Siete." The history of Siete Foods . Siet

PepsiCo’s stock rose Tuesday, bucking the selloff in the broader stock market, after the beverage and snacks giant announced an agreement to buy Mexican-American foods maker Siete Foods for $1.2 billion a week before earnings are released.

PepsiCo said Tuesday that it’s buying Mexican-American food company Siete Foods for $1.2 billion, marking the company’s first food acquisition in roughly five years.

PepsiCo agreed to acquire tortilla-chip maker Siete Foods for $1.2 billion in its latest move to bolster its offering of healthier snacks.The Wall Street Journal previously reported that a deal was close.

PepsiCo is in advanced talks to acquire tortilla-chip maker Siete Foods for more than $1 billion, the Wall Street Journal reported on Monday, citing people familiar with the matter. Texas-based Siete Foods is owned by the Garza family and operated by all seven of its members.