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PepsiCo to buy US snacks manufacturer Bare Snacks

FBR Staff Writer Published 28 May 2018

Soft drinks giant PepsiCo has agreed to acquire US snacks manufacturer Bare Foods (trading as Bare Snacks) for an undisclosed price to expand its snacking portfolio.

Bare Snacks, which is a maker of baked fruit and vegetable snacks, will join PepsiCo’s Frito-Lay North America division.

The acquisition is expected to enable PepsiCo in offering more positive nutrition options to its consumers.

Headquartered in San Francisco, Bare Snacks manufactures an assortment of baked crunchy fruit and vegetable chips.

The company's products are manufactured using simple ingredients that are baked and not fried and are available for purchase online and from natural and conventional retail channels in the US.

Bare Snacks is the owner of the Snacks Gone Simple range, which is made up of bare Apple Chips, Coconut Chips, and Banana Chips to go along with new additions like Beet Chips, Carrot Chips, and Sweet Potato Chips.

PepsiCo chairman and CEO Indra Nooyi said: "For nearly a dozen years, PepsiCo has been committed to Performance with Purpose, our vision of making more nutritious products, while also reducing added sugars, salt, and saturated fat. Bare Snacks fits perfectly within that vision.”

Created in 2001 by a Washington-based organic apple farm, Bare Snacks started by selling packaged baked apple chips in local farmers' markets. Subsequently, it has expanded steadily and has recently entered into the vegetable chips segment, said PepsiCo.

Bare Foods CEO Santosh Padki said: "We are thrilled to work with the PepsiCo team to further our mission of bringing simplicity to snacking. 

"With a shared passion for crunchy, better-for-you snacks, PepsiCo is the right partner to help bring our simply baked fruit and vegetable snacks to even more consumers across the world and continue to grow our brand."

Frito-Lay North America president and chief operating officer Vivek Sankaran said that PepsiCo will continue to offer the existing Bare Snacks product range to consumers. The company will also work along with Bare Snacks’ team to create new innovative options to expand its distribution.

Image: Some of the products of Bare Snacks. Photo: courtesy of PepsiCo.